Financing question
We are purchasing a new MH in May. We would like to finance the purchase to preserve invested funds. Our choices: 1) home equity line credit (potential for increase in rate over time) 2) comme...
Forum Discussion
Thanks everyone for your comments. Wine_zeolot,that's EXACTLY the root of the question. We can figure the 'tipping point' at which it's better to fiance than pay cash. We've decided to finance, based on those calculations. The question relates to the 'best' route (home equity vs classic commercial RV loan), and how much a fiance company would want to see in the way of an income stream in order to approve a loan. I have heard it's hard for retired folks to obtain a mortgage (or RV loan). We are not taking social security (yet).
