Help, Please: Buying in a Campground

[m.yoder@yahoo.com]

We are looking to buy a model in a campground then will rent the ground it's on. I don't understand what kind of loan we need. The title says MH so I am guessing it's titled as a motorhome not an RV? So I'm not sure if we can get an RV loan based on what the bank says, and we are not sure if it can be done as an RV loan or a personal loan. Rates are better as an RV loan. But they don't consider the Florida room on it when they look up the Nada blue book value of it if we do an RV loan. I've called several banks but none seem to understand enough to give us advice.

I would appreciate any advice:

Details. We want to buy a used model with a Florida room, etc., already on it, already has been there for years. We will lease the campground space it's set up on, not own that.

Thanks.

[tbutler]

I'm not sure I understand the problem. Is this a motor home, a trailer or a mobile home? The latter two won't have an engine under the hood. I have never seen a room attached to a motor home that is still used as a motor home. If it is a motor home that is a piece of sculpture (not able to move any more) then that raises issues about the registration and licensing of the vehicle. If it is a mobile home or a trailer, the attached room would make more sense. It sounds to me as though MH would stand for mobile home on the title. Give us some more information and perhaps we can be of further help. What year and model of unit is this? Is it capable of being moved from its location under its own power? Do you plan to travel in this motor home if that is what it is?

We park our motor home on a lot that we lease in Texas. We don't have an attached room and are gone six or seven months of the year. We have trailers and mobile homes in our park with attached rooms (we call the Texas Rooms!) so I could likely come up with some information for you by asking others.

[garykd]

Hi chele323232,

Welcome to the FMCA forums. It only matters what the lending institutions think of the purchase. Get a copy of the title, take pictures of the purchase and inquire at a few lending companies, banks or your credit union. They will let you know what they will do. Ask at the park where the unit is now located. They should have financing suggestions. Then it's on to comparison shopping for the best financing deal. Please post here how it all works out.