How to Refinance RV Motorhome Loans

Would you like to learn how to refinance RV motor home loan?

About financing and refinancing

           Nowadays there are more and more people who decide to buy and RV and need financing for it.

For this reason there are also a number of companies that offer RV financing to help you buy your dream mobile home.

Usually RVs are quite expensive, very often even more pricy than a home.

While some people are happy to get financing for their RVs, others need refinancing and they want to make sure that they will be able to refinance their mobile home.

Refinancing is also a current issue; therefore you have tons of options and things to consider. The numerous alternatives can be misleading and complicated, and this is why knowing your options beforehand is the best way to start.

Should you refinance your RV?

If you have an RV, now is the time to refinance it. In the last few years the rates have been going down, which is a great opportunity to take a hold of. With low RV loans, you have a good chance to get a great deal.

However, there are certain things about refinancing that you should be aware of, because while some people can save a lot of cash, others can lose a big amount of money when refinancing their RV.

If you are planning to sell your RV in the near future, it doesn’t worth to refinance it. However, if you want to hold on to it for a while, go for it. The real issue comes for those who own an RV that is worth less than what they are paying for. Many people get loans without giving a down payment, or they give a very small amount, under 20%.

This seems like a good deal in the beginning, but it also makes the term of the loan much longer. In these cases it happens very often that the owners end up with an old RV and they still have to pay a large amount of money for it. Refinancing your RV in such a situation usually costs a lot of money.

Where to refinance your RV

          There are several companies that you can turn to if you have decided to refinance your RV. Check rates and compare them before you make a decision. After all you have a lot of options. Here are some of the most reliable companies that offer RV refinancing that you should consider.

1.    Good Sam finance center

They offer refinancing for low rates, and they have minimum requirements. You need a minimum of 700 credit score to be able to apply, and your RV must be a model from 2003 or newer. Here are some of their rates:

Loan Amount

$25,000 - $49,999 $150,000 + $150,000 +


4.87% 3.99% 4.12%

Max Term

15 years  15 years   20 years

Paym't /$1,000 


If you decide to choose this company, you can simply call them on the number you find on their website. There is always someone who can help you out if you are not sure which option to choose.

2.    Seacoast Marine Financing

They have both fixed and variable rates for refinancing your RV. They refinance fifth wheels, toy haulers and travel trailers as well. You can apply online for a loan and visit their website for more information about the options you have for refinancing your RV.

3.    Firemen’s Credit Union

While they have an unusual name, they have many options for those who want to refinance their RVs. You can become one of their exclusive members and even have better offers and opportunities.

Visitor's story....

You have paid of about ½ of your 2000 motor home and you would like to get a lower interest rate than the one you are now paying.

Would you like to learn how to refinance RV motor home loan? I will attempt to explain the procedure for you. First you need to understand what refinancing your RV is.

A new loan agreement is drawn up to lower your payment since the loan amount is less, it can also be used to lower the interest rate you have to pay. I would advise shopping around to find the lowest available interest rate. Then look for a lender that does refinancing.

If you purchased your RV in 1997 with a 20 year term, your loan amount will be close to ½ of the original loan and so your payments will be lower.

Credit unions, finance companies and banks, as well as some camping associations offer RV refinancing loans. Whether you live in Florida or love to camp in Maine, you need to check on the reputation of the lender, especially finance companies.

The Better Business Bureau and or your state’s banking commission are reliable sources for this kind of information. Also check/ask for a physical location or place where the lender is licensed. If the information is not forthcoming DO NOT do business with that company.

Even having your interest rate lowered by just 2 or 3% can save you several hundred dollars.Go on line and use an RV loan calculator.

Enter the balance of your loan, the current interest rate and the number of years left on the loan and click on get monthly payments. You may be surprised at how low they will be in comparison to your current payments.

Since you already have a recreational vehicle loan it may be easy to get a second loan from the original bank. You can apply for a refinance loan on line and get your loan approval in a matter of hours.

Here are the basic qualifications:

  • There is a minimum amount you need to borrow.
  • You may have to submit a written inspection report.
  • The borrower’s name must be on the title.
  • The new loan can’t be more than the balance owed.
  • No refinancing of an RV that is paid off.

I hope you have a clearer idea, of how to refinance RV motor home loan at 2007 rates.

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