First Time Buyer...Updated 03/06/2006
This post is intended to be helpful to the first time buyer of a motor home. For those of you who don't fall into that category or believe this post is incomplete or off the mark, do us all a favor, a...
Forum Discussion
GTN_and_Catz wrote:Palm Springs Paul wrote:
What have people been paying for RV interest rates lately? I was quoted 10% at Wells Fargo for a 15 year loan. Anyone have any suggestions for other resources to check out?
Paul - As I mentioned in another post - don't overlook a Line of Credit. We checked into that with BoA and have a 3.5% LoC which we used to purchase our MH. Although it's variable, it can be turned into a fixed term/fixed rate at any time. Right now, that means 5.5% for 15 years.
At 5.5% would be an excellent rate. The lowest prime rate I can find is 7.75 if your credit score is between a 700 and 719.
