Rates as low as 3.94% APY*

Loan coverage and warranties available  

Boat Loan Features You Can Count On

Do you dream of getting out on the water in the type of boat you’ve always wanted? Are you looking to take in Hampton Roads’ waterfront views from your own personal watercraft? When you finance a boat through 1st Advantage, we help you secure the right loan for you, your goals, and your budget.


Low monthly payments


Fast application process


No application fee or prepayment penalty

Boat Loan Rates and Financing Options





Up to 48 months


Up to 60 months


New and used

Up to 66 months


Up to 75 months


Up to 84 months


Up to 96 months


*APR = Annual Percentage Rate. Other terms available. Minimum financed amount required. Minimum monthly payment required. Rate based on creditworthiness and term of loan. Rates are subject to change at any time and are not guaranteed. Listed Auto Loan rates include .25% discount with autopay set up. Regardless of available discounts, 2.44% is the minimum APR offered. Mileage and the condition of the collateral will be considered. Certain restrictions apply.
^All Recreational Vehicle loans require a minimum 20% cash down payment. 


Estimate Your Monthly Payments


Est. Monthly Payment: $0

Our Quick and Easy Loan Application Process



Apply Online

The application takes
less than 20 minutes.



Sign Your Loan

Agree to the loan
amount, rates, and terms.



We'll Do The Rest

Use Your Check to Buy Your New Boat.

Apply Now


1st Advantage Customer Testimonial
“Great staff who are willing to go the extra mile for their customers. Happy to call this branch... my bank.”
- Jennifer W.

Boat Loan Frequently Asked Questions

You must be at least 18 years old to qualify for a boat loan.
There are many variables that affect the term and rate of your loan such as credit history, income, etc.
Most people opt for the full __ months when paying off their loan.
Borrowers with good credit are eligible to borrow up to $_______ for the purchase of a used or new boat.

If all of your credit union accounts are in good standing and you’ve made 12 consecutive months’ worth of payments on your loan, you can qualify to skip one month’s loan payment and keep the cash in your account where you need it.

Fill out a simple online form, and we’ll deduct $25 from your checking or savings account for each loan and each occurrence.

1st Advantage offers members a variety of convenient options to make their loan payments:

  • Pay by card- Use a debit or credit card to make a secure online loan payment (convenience fee applies). Simply click here, then, follow the prompts.

  • Transfer with Online Banking - You can make a payment from a 1st Advantage account by simply transferring the funds using our convenient online banking feature. For help, visit our Online Banking guide.

  • Payroll deduction - Opt to have payments automatically deducted from your 1st Advantage direct deposit. 

  • ACH debit payment – Want to use another financial institution? You can set up preauthorized monthly payments from an account at another bank or credit union. 

  • Phone payment - To pay by phone, call 800-359-7650 or 757-877-2444 for our Pay by Phone* services.

  • Go in person - Members can visit any of our 13 full-service branches, as well as one of our 5,000 Co-Op Shared Branch locations. For a list of these locations, click here.

  • Pay by mail - You can mail your check to 1st Advantage, addressing it to P.O. Box 2116, Newport News, VA 23609

For additional information, whether about these options or anything else, you can contact 1st Advantage at 757-877-2444, or simply stop by one of our branches.

*Convenience fee applies.

If you begin to experience difficulty making your monthly loan payments, 1st Advantage offers free member access to Consumer Credit Counseling Service of Hampton Roads (CCCS), a nonprofit agency of the National Foundation for Credit Counseling. CCCS offers budget, credit and debt counseling services.

Counselors can help borrowers develop individualized solutions and strategies that will help them get out of debt and make their payments.

Learn more here.

Anyone who lives, works, worships or attends school in Hampton Roads – as well as parts of Richmond and North Carolina – and any immediate family members of current 1st Advantage members are eligible to become 1st Advantage members.

We know every member is an individual with goals and particular needs and wants. Because we’re a member-owned nonprofit, we offer a line of products and services for our members with their best interests in mind. From checking and savings, to loans, credit cards, and more, we empower members to achieve their financial goals.

What’s more, we’ve made it as convenient as possible for you to access your money and to check in on your accounts, with online and mobile banking, as well as our branch locations and co-op branch network.

Learn more about 1st Advantage membership benefits and privileges here.

Boat Loan Resources

We make buying your new or used boat smooth sailing. At 1st Advantage, we are here to help make the loan process as simple as possible. Check out these additional resources about applying for a boat loan.

Boat Financing: Helpful Information for Boat Buyers

Boat loans: How boat financing works

Ready to set sail? Apply for your boat loan!


Apply Now