Securing Financing on SSDI ,full time?

Matt1221 wrote:
Hi,
I have a dilemma coming up where I would need to live full time in a travel trailer. I am on SSDI & bring in less than 20k a year in income. Will it be hard to get financing? My credit is just'ok' But there are several new & slightly used trailers I like but scared to apply because I don't want to be rejected.

Unfortunately, it is very likely you will be unable to obtain financing. Your income is too low for most lending institutions. With only OK credit you aren't going to be approved. (I assume you don't have a huge down payment, a relative that is the bank president, or a huge trust fund you forgot to add into your income).
RV loans require high borrower standards for a number of reasons.
They are considered recreational and luxury purchases.
As collateral they have reduced value to the lender since the depreciate rapidly.
Then there is the fact that the collateral can virtually disappear along with the borrower. Most borrowers are tied to something, a job, a residence etc. They can be found if necessary. A full timer in an RV can be gone without a trace. Park it somewhere and you don't even need to keep it licensed. That makes a lender more cautious.
However, fear of being turned down isn't a good enough reason to not at least make an attempt. Nothing really harmful will happen if they say no. Then you will know and not be guessing or relying on internet opinions.
But in the end I think you will need to come up with another plan. Sorry.