Refinancing a 2005 DP Motorhome

Question

We have a 2005 Diesel Pusher. Does any one know of a lender that is offering a 20-year term for a MH this old? We would like to again reduce our monthly payment as much as possible (disclosure - we refi'd in 2011 at 6.16% down from about 8.5%)). I have checked with Essex (FMCA) and Good Sam - they offer only 15 years on a 2005, so the interest rate would drop but no lower monthly payment. My current lender (Bank of America) won't even talk refi because the MH is over 7 years old.
I saw at least one reference to Ally Bank on this forum, but have not contacted them yet. Any suggestions appreciated.

Hank
2005 Mandalay DP
2012 CRV

aridon · Answer

Bank of the West maybe?If I had to guess I'd say 15 is likely the longest you'd get on a 2005.

timmac · Answer

US Bank gave me 4.99 for 15 years.

i_am_still_wayn · Answer

Aridon wrote:Bank of the West maybe?If I had to guess I'd say 15 is likely the longest you'd get on a 2005.Essex Credit, which the OP has already talked to, is the RV lending arm of Bank of the West.

gone2dadesert · Answer

check out bank of the west, they may not be as competitive as others.

pablo77 · Answer

Two years ago I applied at Essex and ended up going through the dealer directly with Bank of the West. Essex was over 1.25% higher.

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Refinancing a 2005 DP Motorhome

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