100 Severn Ave, Suite 101 Annapolis, MD 21403
800.525.0554
Sterling Acceptance Corporation, Redefining the way you finance
Founded in 1987 by lifelong boaters with an extensive background in banking, Sterling Acceptance has been helping customers finance their adventures on the water and the road for nearly four decades.
We’re an experienced team that know boats and RVs inside and out. Our crew includes seasoned underwriters, Coast Guard documentation specialists, and licensed yacht insurance agents—all here to make the process simple and stress-free. With more than 50 years of combined experience in marine lending, our senior underwriters know how to navigate even the most complex loan applications with ease. Around here, “We’re not just bankers, we’re boaters too…and we care” isn’t just a slogan—it’s who we are.
We offer a wide range of loan programs with great rates and terms, working with a nationwide network of lenders that specialize in marine and RV financing. Our Annapolis-based team can also help with Coast Guard documentation, state titling, and yacht insurance through top-rated carriers—so everything you need is in one place.
The owners of Sterling Acceptance have been boaters since childhood, most recently owning a 50’ Post, cruising the Chesapeake Bay and the Atlantic with their golden retrievers. They’ve also logged many of miles sailing in the Bahamas and Caribbean—so when we say we understand the boating lifestyle, we mean it.
Boat Loan Q&A
Getting a boat loan is easier than you think. It’s simpler than a mortgage and just a bit more detailed than a car loan—making it smooth and straightforward for first-time buyers
Applying for a boat loan is easy – use our online application or reach out to us directly:
Approvals generally take 24-48 hours, though larger loan amounts may take a bit longer.
Absolutely and we recommend it! A preapproval puts you in a stronger position, helping you negotiate with confidence and act quickly when you find the right boat.
30- 60 days.
A minimum FICO score of 680 is required. Scores over 800 may help you secure better rates and terms.
In general, down payments range from 10–15% for loans under $100,000. For loan amounts over $100,000, a 15–20% down payment is typically required.
Loan Terms are available for up to 240 months (20 years).
Sterling Acceptance does not charge application, origination, or credit report fees. There is a small processing fee (under $500), as well as applicable Coast Guard and state registration fees.
Under current IRS guidelines (IRC Section 163(h)(2)(3)(4)), boat loan interest may be tax-deductible if the boat qualifies as a second home. To qualify, the vessel must have three features: a sleeping berth, galley, and head. The deduction applies to interest on loans up to $750,000. We always recommend consulting your tax professional to determine your eligibility.
