Financing Your Boat Purchase

Enjoying Minnesota’s 10,000 lakes is what many people look forward to each year. Is 2022 the year you finally purchase the pontoon, fishing boat, or ski boat of your dreams? For help financing your boat purchase this summer, get in touch with Lake Region Bank.

Personal Loans for Boats

A personal loan may be the best solution for financing your boat purchase. Personal loans from Lake Region Bank offer flexible repayment plans and an electronic loan application process, on top of the friendly, personal service you expect from us.

Interest rates for personal loans vary day by day. The interest rate on your personal loan will also be influenced by your credit score and whether or not you are a current Lake Region Bank customer. If you are a customer, you can lower your interest rate by setting up automatic payment transfers from your checking or savings account into your loan account. Our bankers can show you how—it’s easy! We try to make it efficient for you to purchase your new boat.

If you think a personal loan is the best solution for you, get in touch with one our personal bankers today. Our expert team can explain how the loan application process works and share our interest rates with you. Call 320-235-5900 or fill out our interest form to get started.

Financing Your Boat Purchase with a Home Equity Line of Credit

If you own your home, a home equity line of credit may be another option for financing your boat purchase. A home equity line of credit is a second mortgage on your home. This loan is separate from your primary mortgage and has its own terms. You will make a monthly payment toward the loan on a payment schedule.

Like personal loan rates, interest rates on home equity lines of credit vary day by day. A Lake Region home lender can help you understand this option and decide if it’s the right one for you. Call 320-235-5900 or fill out our interest form to get started.

Get the Loan Process Started

Whether you’re on the hunt for a new fishing boat, pontoon, ski boat, or other watercraft, Lake Region Bank can help you purchase your new big toy and get out on the lake. It all starts with a conversation with one of our friendly and knowledgeable team members. You can call 320-235-5900 or fill out our interest form to learn more and get started on the loan process.

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