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Old 12-15-2015, 08:08 AM   #29
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Problem is, the bank recognized our address as a mail forwarding service.

For now we have a commitment, through Essex, at 4.64%, or what I figure is roughly 1% higher than the current market, given our assets and credit. Of course they won't lock that in for 5 months so in another 3 months we'll be negotiating on the rate, again. At that time I'll also shop a couple of more possible sources.
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Old 12-15-2015, 12:21 PM   #30
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What mail service do you have? Escapees' addresses have been proven in the court system that it is a legal address. Our banks have never had a problem with it - Bank of America, Wells Fargo, Fidelity, Vanguard.
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Old 12-15-2015, 12:29 PM   #31
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Quote:
Originally Posted by wildtoad View Post
One thing to consider is to talk with your investment bank and get a line of credit against your investment account. I did this once to buy a second house. Write a check to the rv dealer and pay back the line of credit as you want to.
Excellent idea. We know of folks who have done this, especially if they just wanted a short-time loan.
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Old 12-15-2015, 12:49 PM   #32
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Quote:
Originally Posted by twogypsies View Post
What mail service do you have? Escapees' addresses have been proven in the court system that it is a legal address. Our banks have never had a problem with it - Bank of America, Wells Fargo, Fidelity, Vanguard.
We use America's Mailbox out of South Dakota. Didn't matter though, it simply confirmed that our motorhome was our "primary residence". Bank of the West says their RV loan requirements are that it can't be the primary residence. On the other hand, their subsidiary, Essex, has no such restriction, albeit the loan will be at a higher interest rate.
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Old 12-15-2015, 01:43 PM   #33
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Old 01-01-2016, 10:04 PM   #34
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As of tonight on the Essex Credit site, the rates for the 350k-500k for either new or fulltime are virtually the same. The rate for new is 4.62 and 4.75 for 15 and 20 yrs. The rate for fulltime is 4.69 and 4.75 for 15 and 20 yrs. You may also get to Essex through Good Sam or Coast to Coast and may get an additional small discount as members of one of those. As a fulltimer, we did Bank of the West once on a used purchase and Essex Credit once on a Refi. If they say your income is to low, you may look at briefly drawing a larger income for one or 2 months so that you can show your monthly income of a size that will fall into their guidelines and then drop your income back to where you want it. We are fulltimers since 2000, have a small blank piece of property in Missouri to park on, and 4 acres in Wisconsin with a 32 x 64 polebarn that we back inside of. Neither is a residence. We use My Home Address in Emery, SD for a legal address. We now have US Bank and they are aware that we are fulltimers. Good luck in your bank search. Hope this may be of some help or interest. Happy Trails Bert
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Old 01-01-2016, 11:22 PM   #35
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I don't know about full timers, but I got the best rate from Nationwide when I bought mine last August. Everything was done online.


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