RV FAQ - Gulfcoast Funding

1. What is the Interest Rate?
2. What are the down payment requirements?
3. What is the smallest amount I can finance?
4. Is this a simple interest loan?
5. What is LIBOR?
6. Can I pay off my loan without a prepayment penalties?
7. Are there any application fees or Closing costs?  
8. How long will it take to process my application?
9. How do I receive funding?
10. What type of RV's can be financed?
11. How do I apply?

1. What is the Interest Rate?
Gulfcoast strives to offer the lowest rate and the best terms possible. Rates vary on the amount financed and age of the recreational vehicle. Please call us at 1-727-578-5035 for a personalized rate quote or complete our online rate quote form.

2. What are the down payment requirements?
Financing generally requires a 20% down payment. Gulfcoast does have 10% down and 15% down programs available for new and used recreational vehicle purchases.

3. What is the smallest amount I can finance?
The minimum amount is $10,000. There is no maximum.

4. Is this a simple interest loan?
Yes all of Gulfcoast Marine's loans are simple interest loans.

5. What is LIBOR?
LIBOR is an abbreviation for " London Offered Rate " LIBOR is used as a base index for setting rates of some adjustable rate financing instruments, including Adjustable Rate Mortgages ( ARM'S ). Loans tied to LIBOR are variable loans but they usually are very attractive because LIBOR is lower and some financial anaylsts are of the opinion that it may be more stable than the New York Prime Rate.While Gulfcoast has no such opinion, we offer this product as part of our full servicing of options available.

6. Can I pay off my loan without a prepayment penalties?
Yes, most of Gulfcoast's marine loans have no prepayment penalties.

7. Are there any application fees or Closing costs?
Gulfcoast Funding does not charge an application fee. Closing costs will include titling fees in accordance with the state the vehicle will be titled in, and most vary between $175 - $375.00. ( New or Used RV's)  Gulfcoast Funding  will service all the pre closing titling and registration needed in order to complete the loan stipulations.

8. How long will it take to process my application?
Gulfcoast Funding has several options available.  With our no-income verification loans, we can usually respond with a credit decision within 24 hours. On occasion, it takes two days with a complete loan package and the proper income verification.

9. How do I receive funding?
Gulfcoast Funding will fund your approved loan after all of the proper loan documents are signed. The funds are paid by check to the seller or we can make arrangements to wire the funds to the seller.

10. What type of boats can be financed?
Gulfcoast Funding finances new and used recreational vehicles for pleasure purposes. We have many lending sources that allow us to finance older RV's as well.

12. How do I apply?
Applications are available online or Gulfcoast will fax or mail you our credit application. The application also contains a personal financial statement Please complete and sign the application and personal financial statement and return them with two years of income verification in the form of your last two years 1040 tax returns. ( and supporting schedules ) Gulfcoast can obtain a credit decision in as little as one day. Gulfcoast's fax number is 1-727-578-8836.

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