We make boating adventures possible every day. Our business is built upon helping customers get the boat they want and a boat loan that works for them. Want the boat of your dreams? Look no further than Chesapeake Financial for great boat loans in Texas. We know how important customer service is, which is why when you contact us, you’ll be speaking with an expert in the field, not an automated system.
We’re the number one boat loan lender nationwide and proud of it. We work to ensure that every possible option is considered before making a loan determination. Our fast process also ensures that you’ll receive a response from us within 24 hours. We’ll go farther to qualify you for a boat loan than a bank would ever think about doing. We have the expertise in the industry to secure financing for you and if we can’t get you a loan, we’ll let you know why.
Are you a self-employed business person looking for a no-income verification boat loan? At Chesapeake Financial, we specialize in no proof of income loans to help you acquire the boat you want.
A no-doc loan means the borrower doesn’t have to provide the lender with standard proof-of-income documents such as tax returns, paychecks, or W2s. We may verify your income through earning statements, savings, assets, stock holdings, and more. Traditionally, self-employed no-income verification boat loans have larger down payment requirements and higher interest rates.
Over the last 32 years in business, we have become accustomed to the trials of the self-employed not having proof of income documentation. Well now we have the answer. If you do not have sufficient ability to prove your income but still maintain a high credit rating, we have more than one way of obtaining up to $199,999.00 even if you can’t. We can also overcome the lack of personal liquidity up to $299,999. That means that even if you can prove your income but lack the large savings or investment accounts that most lenders require, we can help there as well. Please feel free to give us a call to discuss these options.
Easy Online Application
Utilize our simple application. This allows you to apply for a boat loan immediately with a response provided within 24 hours.
Fast 24hr response
Chesapeake Financial will provide you a timely response within 24 hours of your application. Give us a call or get started online so you can stop wondering and start buying.
Flexible Financing
No matter what your financial background is we will work towards a positive solution. Get in touch today to see what your boat loan options are.
Years of Experience
Trust a team with over four decades of experience. You want to feel confident moving ahead with your financing, and we will get you there with professional reliability.
It's no secret that Texas feels like a country of its own, where many people enjoy line-dancing, rodeos, and barbecue! There’s no better place on the planet to find a plate of brisket or ribs, which is always served with a generous portion of side dishes. However, this isn’t the only reason why people flock to this state. Here are just a few lakes that serve up amazing boating experiences.
As its name suggests, this lake is located at the center of Austin and is one of the most popular places for boating. Motorized watercraft are allowed here, allowing anglers to find great fishing spots. The beautiful sunsets here have become a main feature of the lake, where you can ride the calm waters to end the day on a high. Those who wish to fish here are in for a treat since you may find a healthy population of bluegill, redbreast sunfish, and blue catfish.
This world-renowned lake is famous for its sparkling blue waters and is possibly the most gorgeous lake in the whole state. With more than 270 miles of shoreline, you’ll be able to make the most of your time using a speedboat, but you can use any kind of watercraft or boat you please. Whether you’re looking to get a tan or want to feel the wind against your skin, Lake Travis is a must-see area during your visit to Texas. As for anglers, there is also plenty of fish to catch here, where you’ll find several species like rainbow trout, striped bass, and flathead catfish.
With trees draped in moss, Caddo Lake is a part of Caddo Lake State Park and a great place for boaters. The Big Cyprus Bayou is anywhere from 8 - 20 feet deep and flows by in no hurry. The lake is housed within the confines of a great forest with hiking trails that are perfect for exploring.
The Gulf of Mexico is the tenth-largest body of water in the world and is over 810 nautical miles wide. It is home to the Black Coral Reef and has a number of aquatic wildlife including sharks, dolphins, whales, sea turtles, and manatees. Whether sailing, fishing, or relaxing, the Gulf of Mexico is a go-to vacation spot that doesn't disappoint.
Texas is a great spot to visit for those looking to fish or if you’re an explorer by heart. You can find your share of paradise in their many popular destinations. Here are some other Texas destinations that may catch your attention. They all have some unique features to offer boaters:
• Lake Texoma
• Toledo Bend Reservoir
• Lake Conroe
• Lewisville Lake
We also offer services in other states:
We play by the rules, but we think outside the box. Why go to a banker when you know he’s only got two things to do: turn you down or approve you. We make every effort to secure a boat loan for you. Your approval is our success.
We realize that things happen in life, but there are some items that lenders don’t look favorably upon. If you’ve experienced any of the following events within the last several years, then we won’t be able to secure a boat loan for you.
Whether you’re a first-time boater or a lifelong enthusiast, Chesapeake Financial can secure funding for your boat purchase. We offer the best loan rates, terms, and exceptional customer service that you’ll be hard-pressed to find anywhere else in Texas. The boat loan application process is simple. We always protect your credit file and secure a boat loan that fits your budget. Our process ensures a seamless transition from application to funding for your next boat. We even supply guidance on how and where to title your boat in Texas. If you have any questions at any time, we’re only a phone call away. Check out our loan information below and give us a call to get the process started.
New and used boat loans begin at $35,000 and go as high as $22 Million. We do not finance boats that are older than 20 years of age. Interest rates vary by credit scores, age of boat, and equity positions. The wholesale value must be $50,000 or higher on boats older than 15 years of age and by no means, can we finance boats that are older than 20 years of age. We do not finance boats not listed in the NADA or BUC Value guides. Please refer to the section on what boats we can and cannot finance and the required down payments section.
Down Payment options
Interest Rates
The interest rate on a boat loan is based on the age of the boat, the total amount financed, your credit score, and vehicle valuation. We work with you to find the best rate possible for your situation.
Documents You’ll Need
Boats older than 2018 & over $100k normally requires full documentation including 2 years tax returns and a personal financial statement. Exceptions may apply. Personal liquidity (liquid assets) are an important part of a large loan approval process. Your personal financial statement will need enough liquidity to cover the loan
When you call us you'll be speaking with a knowledgeable expert in the boat loan industry. Our goal is to answer all of your questions and help you secure financing if we can. If you happen to call us and we don't answer, leave your name, number, and the we'll give you a call back as soon as we can. We will call you the same day you call us and you will never be left hanging. You may also contact us using our “Contact US” page.
Chesapeake Financial is a national boat loan lender that offers boat financing in Texas on model years up to 20 years in age. Boats older than 15 years of age are considered on a case-by-case basis and will vary based on the size of the boat loan, the age of the vessel, and your credit scores and are based on wholesale valuations. Minimum loan amounts on boats older than 15 years of age start at $50,000. We accommodate broker, dealer, and private sales.
There are times in life when refinancing your boat makes perfect sense. Whether you’re wanting a lower payment, a better interest rate, needing to change from joint ownership to single, or simply looking to extend your term, you’ll find that refinancing your boat loan in Texas is a simple process with Chesapeake Financial. You’ll receive a fast response after submitting your application through our secure portal. If you have any boat refinancing questions, feel free to give us a call. We look forward to speaking with you soon.
*Based on value
Once the application is filled out, you’ll get a response from us within 24 hours at most. Usually the same day.
Take your approval loan to the dealer, a private party or a broker. This will improve your purchase power.
After the deal is finalized, contact us for the documents required and we’ll finalize your loan.
We’ll send the funds overnight to you or the dealer. Wires are available.
Feel the wind and spray of the open water on your new boat.
service areas
My call was returned within minutes — not hours like other places. Phil got me a great loan with a great rate even though we were first-time “big boat” buyers. Very happy with EVERYTHING that was done!
– MARK MILLS
Great company to do business with and would refer anyone needing a boat loan over to them. Very knowledgeable and will go the extra mile to get you the best rate. Couldn’t be more pleased.
– SERGIO GALINDO
Phi is a pleasure to deal with. I have financed two boats with him and he has always made it an easy, quick process. I would highly recommend contacting Phil when shopping for your boat financing.
– VITO MANZI
The term is based on the value and age of the boat you are purchasing.
Yes, in fact, we do 15-20 year boat loans.
Yes, with a simple 5 question conversation. Please give us a call at your convenience.
Interest rates are based on your credit score and the value of the boat you're purchasing. Call us for specifics regarding your situation.
Always within 24 hours and as fast as instantly.
There are several reasons why being prequalified for a boat loan can aid a buyer. First, it lets the buyer know how much money they can borrow. Second, being prequalified can make the boat buying process a smooth experience. You can walk into a dealership and have confidence that you have financing already in place. Prequalification lets you know how much boat you can afford and what the monthly payments will be.
Yes. No prepayment penalties are ever assessed.
Depending on the age and amount borrowed, as many as 20 years in term.
By having good credit and calling us for valuation.
