State Residency Question?

[MCTalley]

We've had no problem getting loans or anything. Just purchased a new car with some financing. Nothing changed. You just need an address and good credit. Our address is the address at RVMail.com with our personal box number. Over three years and zero issues with banks, investments, loans, insurance, etc...

We didn't have any problems with any credit cards or truck loans using our Escapees mailbox address, only the RV. Some banks may not ask if you are full-time or not, but it was our experience when buying our second RV at La Mesa in Arizona that they said only one bank they dealt with would loan to a full-timer (Alliant). When we purchased our current rig, I just went through Alliant again since we've had a good relationship with them.

 

[carbjetkits]

We bought a new RV before we are going full time..

 

[MCTalley]

For reference on RV lending for full-timers, do a Google search on "Regulation Z Section 226.35 rv loan" (linked for reference).

This is the SAFE act, implemented after the 2008 mortgage meltdowns. Reg Z's 226.35(b)(3) specifies a requirement for Escrows. This section includes structures that are classified as personal property under state law as principal dwellings that would require escrow accounts to be established. Therefore, an escrow account would have to be established on a higher priced mortgage loan secured by a first lien on a mobile home, boat or trailer (RV) used as the consumer's principal dwelling.

 

[wdk450]

Like I said, your experience may vary. I was turned down for a no collateral bill consolidation loan only because i couls not supply a utilities bill. The same company still sends me "you are pre-approved" mail.