Beginning RVer: Is this Scenario Doable?
Hello, I am just beginning my research process into RVing full-time. My plan is to live in Wisconsin half the year and in Arizona during the winter traveling between the two a couple times a year. ...
Forum Discussion
valhalla360 wrote:
Unless your parents co-sign or otherwise materially participate in the loan contract, there is no reason they could be liable for the loan (I assume you are an adult and not under any special guardianship to your parents).
The easiest would be to get the loan while you still have the apartment.
How will you be paying the loan? Will it include changing jobs? Is the income to payment ratios reasonable? It's quite reasonable for the bank to have questions if your financial situation is changing drastically and you are purchasing an item that can disappear or be destroyed in a heartbeat.
My thoughts exactly. I talked with my credit union last month about a travel trailer loan and one of the things they asked was how much I payed in rent, which affected my debt-to income ratio and they denied the application since the rent figure made it too high. But I wouldn't be paying rent if I got the trailer. I don't know if it's possible to use my apartment address and tell them I pay zero rent. That could look suspicious?
