Mainuh Posted April 16, 2015 Report Share Posted April 16, 2015 Hi. I'm just over 9 months from retirement. The wife and I are getting ready, donating, selling and dumping stuff. We've decided to full time in a Class A MH. We've attended a few shows. Since dealers are scarce in our neighborhood we're going to spend the weekend in the Denver area kicking tires. At a recent show, we heard from a dealer that we should buy the MH before we sell the house because lenders are reluctant to write loans if you don't have a stix &brix house. Has anyone experienced this or is this dealer horse pucky. Thanks, Roger Colorado Roger, Congrats on your approaching retirement! We're on about the same time frame I think... I plan to retire January 2016 and hope to be FT by that fall. Similar to you there's almost nothing in a class A to see less than 2+ hours away from us in Maine. We just took a trip out to AZ and rented an RV for a week near Tucson. While we were there we looked at RV's in Tucson and Mesa/Phoenix areas. About 50% of the dealers there mentioned the "buy the RV before you sell the house" bit. I'd like to have the RV for a few months while I still have my conventional house with all my tools and workshop etc, but we don't plan to finance ours in the long term. We may finance until the house sells and then pay it off if rates are still good. I'm guessing there may be banks that would still write it with a decent down payment and good credit, but probably many that won't as it was almost the first words out of the dealers mouth at a couple places. Happy hunting and maybe we'll see you on the road in a year or two... Cheers, Don Link to comment Share on other sites More sharing options...
bigjim Posted April 16, 2015 Report Share Posted April 16, 2015 Hmmmmm, a dealer urging you to buy first. May be valid but maybe not. If you had lived in a rental house or condo part or all of your life I guess it would have to be determind off what you have, what you earn or retirement income and you payment history. Link to comment Share on other sites More sharing options...
mionerr Posted April 16, 2015 Author Report Share Posted April 16, 2015 Happy hunting and maybe we'll see you on the road in a year or two... We'll leave a light on... oh, wait. that's the wrong quote. Seriously, though, we are really ready to be done with the house and working. Wife thinks we can be ready to move into aMH late this summer. I look around the house and ponder renting a front end loader to make her deadline. The housing market here in Pueblo is flat and has been for years. I hate the thought of two house payments in retirement. I need to call my credit union and check on their requirements. Their interest rates aren't the best at 5 3/4 for a used MH. Roger Colorado Link to comment Share on other sites More sharing options...
mionerr Posted April 16, 2015 Author Report Share Posted April 16, 2015 Hmmmmm, a dealer urging you to buy first. May be valid but maybe not. If you had lived in a rental house or condo part or all of your life I guess it would have to be determind off what you have, what you earn or retirement income and you payment history. Your comments are logical; however I've had feedback from some RVers saying the same thing. Maybe that is their perception from hearing dealers' comments. More research is needed. Roger Colorado Link to comment Share on other sites More sharing options...
bigjim Posted April 16, 2015 Report Share Posted April 16, 2015 I was trying for funny first. I can see valid points to before home sale but I sure would investigate anything a dealer said before I took it to heart. I am sure that some dealers and their staff are above board but most of the times you can;t tell the good guys from the bad guys without a scorecard. Link to comment Share on other sites More sharing options...
mionerr Posted April 16, 2015 Author Report Share Posted April 16, 2015 I was trying for funny first. I can see valid points to before home sale but I sure would investigate anything a dealer said before I took it to heart. I am sure that some dealers and their staff are above board but most of the times you can;t tell the good guys from the bad guys without a scorecard. Amen! Roger Colorado Link to comment Share on other sites More sharing options...
Kirk W Posted April 16, 2015 Report Share Posted April 16, 2015 I can see valid points to before home sale but I sure would investigate anything a dealer said before I took it to heart. There is, or at least was some validity to what the dealer was saying, but I'm sure that his real motivation was the making a sale. At the time that we bought our fulltime RV, there was a difference in most lenders. What we discovered was that most lenders would give about 1% lower interest if you owned a house. But the interest rates were significantly higher back then so I'd doubt that the difference would be nearly that great today, if it is true at all. For a time loans were much more difficult to get and that too could be an issue, depending to some degree upon your credit rating/score. If it were me shopping for an RV loan today, I would contact the lenders now and discuss what you can do and can not do. I got a loan commitment before I went out to buy, so that I knew exactly what I could get and at what rate. But that was more than 15 years ago and much has changed and the loan marked has been much more in a state of flux recently so I think that your best bet is to talk with some lenders before you start to shop for an RV so that you know what is true today and for your financial situation. Good travelin !...............KirkFull-time 11+ years...... Now seasonal travelers.Kirk & Pam's Great RV Adventure Link to comment Share on other sites More sharing options...
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