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What information do I need to have ready before I apply for an RV loan?
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What information do I need to have ready before I apply for an RV loan?
- Your personal information—name, physical address, date of birth, social security number, and purpose for the loan. - Collateral information—year, make and model of the vehicle. - Loan information-the amount of money you are planning to borrow
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Do I need RV insurance to apply for a RV loan with MutualBank?
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Do I need RV insurance to apply for a RV loan with MutualBank?
Borrowers will need proof of insurance before the loan documents are signed, but may submit an application before having insurance.
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What if I want to sell my RV before it is paid off? Can I do so?
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What if I want to sell my RV before it is paid off? Can I do so?
Borrowers do negotiate agreements to sell their RV’s before they are paid off. In these cases, the seller and the buyer generally meet at a bank location, and the RV loan will be paid, then the title released. The seller will receive any proceeds in excess of the payoff amount of the loan.
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Should I apply for a RV loan before or after I know the RV I want to buy and where I want to buy it?
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Should I apply for a RV loan before or after I know the RV I want to buy and where I want to buy it?
You may apply for a specific loan amount, and we can condition approval on a specific RV.
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Are there RVs that MutualBank does not finance? Why?
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Are there RVs that MutualBank does not finance? Why?
If we cannot determine the value of an RV using the value guides listed above or if we cannot establish the condition of the RV relative to the value guides, we will be unable to finance it.
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If I can get financing for an RV at a dealership, why would I finance my RV with MutualBank?
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If I can get financing for an RV at a dealership, why would I finance my RV with MutualBank?
Consolidating your payments into one financial institution and using online banking tools, as well as our knowledgeable staff and competitive rates, are all reasons to choose Mutual. MutualBank does financing through RV dealerships! Ask your dealer for approval through MutualBank.
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Do I need to make a down payment to be approved for a RV loan? Is there a minimum down payment required?
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Do I need to make a down payment to be approved for a RV loan? Is there a minimum down payment required?
We set a maximum amount of the value of an RV that we are willing to finance. For a new RV, that value is determined using either 90% of Suggested List price in NADA Recreational Vehicle Appraisal Guide or 90% of List price in Kelley Blue Book Official RV Guide. For a used RV, that is determined by 100% of Used Retail value in NADA Recreational Vehicle Appraisal Guide or 100% of Suggested Retail value in Kelly Blue Book Official RV Guide.
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Is there a maximum RV loan amount I can apply for with MutualBank?
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Is there a maximum RV loan amount I can apply for with MutualBank?
There is no maximum. Each individual’s maximum loan amount is determined by the applicant’s ability to pay and the value of the RV.
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What is the minimum RV loan amount required to finance with MutualBank?
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What is the minimum RV loan amount required to finance with MutualBank?
2500.00
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What are the shortest and longest term RV loans you offer?
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What are the shortest and longest term RV loans you offer?
The minimum loan term may be a short as 90 days. The longest term is 180 months (15 years) and is determined by the age of the RV and the amount financed.
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These questions and answers are provided for general information only and may not be completely accurate in every situation. The information provided is not legally binding on MutualBank or any of its affiliates or subsidiaries. For assistance with specific questions regarding your account(s), please contact us.

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