Keeping the monthly payment of a boat in line with your other expenses is important. A good rule of thumb is that your boat payment should be less than 5-10% of your monthly income.
Lenders for a boat loan are going to look at your total debt to income ratio. This is all your debt payments, home mortgage, auto loan, and student loans.
There are a number of ongoing expenses relating to a boat. A good rule of thumb is that they will be between 10 and 25% of the purchase price of the boat.
Most boat loans require a down payment. For instance, SunTrust offers boat loans with 15% down payment. Some loans are with 10% down payment .