Has anyone out there tried to finance their RV once they finished it and had it flying?
My last two house purchases have been kind of nice since I could use the money in the airplane fund as a down payment for the new house and not have to sell the old house right away. However, once I get to the money end of the airplane project (engine & avionics), I will have used up much of that "surplus" cash. So... I was thinking maybe I could get a loan on the RV to use toward a down payment. Then, once the old house sold, I could pay off the loan.
I understand that home lenders look at things like debt load and such. That's not what I am after here. I am just wondering how much trouble it is to get a loan on a finished, flying RV.
Thanks,
My last two house purchases have been kind of nice since I could use the money in the airplane fund as a down payment for the new house and not have to sell the old house right away. However, once I get to the money end of the airplane project (engine & avionics), I will have used up much of that "surplus" cash. So... I was thinking maybe I could get a loan on the RV to use toward a down payment. Then, once the old house sold, I could pay off the loan.
I understand that home lenders look at things like debt load and such. That's not what I am after here. I am just wondering how much trouble it is to get a loan on a finished, flying RV.
Thanks,