Borrowing money to purchase a boat can be one of the more challenging parts of purchasing a vessel!  It is a whole lot more dificult to finance a boat than a home... there aren't any federal programs to assist you, and often the lowest cost way to finance a vessel purchase is with a cash-out refi or home equity loan of some sort (just don't tell your financial planner).  

The best rates and terms are given to borrowers with high w-2 income and excellent credit.  The lowest rates and longest terms are extended on the newest and most expensive vessels.  

To the right you will find an expired rate advertisement from a preferred lender, Natalie Reyes.  Current rates will vary, but this is a good general guide in the current low interest rate environment.  Mrs. Reyes is a loan broker that shops rates from multiple lenders to get the best terms for her clients. There are direct lenders as well, of course.

Older vessels can often be purchased with loans from Navy Federal Credit Union, USAA Federal Savings Bank or America First Credit Union.  I've seen teachers credit unions loan on older vessels, as well.