Frequently Asked Questions

We have access to the most competitive programs in the country. Since we are not the actual lender, we shop rates for you. And because of our volume, we can typically find you rates and terms not available at your local bank.

Interest rates range up to 17.99% based on a variety of factors including the amount you are financing, the age and type of collateral you are financing, your location, and your credit history. All rates offered are fixed APRs.

Rec Loans 360 offers terms from 60 months (5 years) up to 240 months (20 years) depending on the amount you are financing, the age of the RV or boat, and your credit history. We offer the longest term possible, as there are no prepayment penalties with any of our loans. This allows you to pay off your loan as quickly as you like while always having the option of the lowest payment. Once approved, if you prefer a shorter term, please ask your loan officer and they will work that out for you.

Any of the three major credit bureaus may be utilized depending on the lender you are matched with based on your situation.

Yes, our website is secure. To protect the integrity of your information all communication between you, us, and our partners is encrypted using the latest standards for financial transactions.

We are able to work with dealers and private party purchases. This gives you the ability to find the best possible deal for the RV or boat that fits your needs.

We currently offer financing on the following unit types:

  • Boats
  • RVs
  • Cargo/Utility Trailer
  • Livestock Trailers

We currently offer financing on the following unit types:

  • Boats
  • RVs
  • Cargo/Utility Trailer
  • Livestock Trailers

1. Minimum credit score of 500.
2. Consistent source of provable income.
3. Age of unit varies 15 years or newer for RVs and 20 years or newer for boats.
4. $10,000 minimum loan amount.

5. Debt to Income (DTI) Ratio needs to be under 40%.

Yes, we do pre-approvals, however we need an example of what you are looking at so it can be reviewed by our lenders. Once approved, you can switch units and your loan officer will let you know how to make that happen.

1. Unverifiable or temporary income. 
2. No programs available in Alaska or Hawaii at this time.
3. Multiple bankruptcies or currently open bankruptcy.
4. Large, outstanding collections.
5. Inability to afford monthly payments.
6. Accounts in forbearance (student loans, mortgage, auto loans).
7. Enrolled in credit counseling.

We do offer refinancing programs for amounts over $75,000 with 12 months of on-time payment history and a minimum credit score of 680. Additional terms and conditions may apply.

For a purchase transaction, you will be asked to provide:

  • Copy of your current driver’s license – clear & legible
  • Copy of purchase agreement
  • Copy of front and back of the title and/or current registration
  • Proof of
  • Proof of valid insurance
  • Deposit (if applicable)

For a refinance transaction, you will be asked to provide:

  • Copy of your current driver’s license
  • Copy of your current registration

Yes, taxes, title, registration, and/or loan processing fees may be included in your loan amount subject to the loan amount meeting the bank’s LTV (Loan to Value) guidelines

While most of our lenders require a 10% to 15% down payment, our lenders will consider 100% financing on a case-by-case basis.

Yes, as long as your significant other is listed with you as a co-applicant on the application.

Income verification could be required depending on the applicant and the loan amount.
If income is being verified, you may be asked to provide additional information such as:


  • If salaried, year to date paystub and/or most recent W-2 & two (2) years 1040 tax returns with all schedules and statements.
  • If applicable, if self-employed, most recent two (2) years of personal federal tax returns including all schedules & two (2) business returns including all schedules & K-1s.
  • If retired, Social Security, Retirement, and/or disability Benefit Award letter, current pension statement, annuity statement, investment and/or deposit account statements.

A soft pull does not affect your credit score. However, to complete your application, a hard inquiry is required by law and can have a small effect on your credit score. For more information on how inquiries affect your credit, we recommend speaking with a professional credit consultant.

Currently, all of our participating lenders require applicants to be US citizens or permanent residents with valid social security numbers. At this time ITIN’s are not accepted.

You will receive your decision via email. While we are processing your application, review your confirmation email for any documents you will need to have prepared prior to closing. Once you receive your offer, your loan officer will discuss next steps based on your situation.

We do not charge a fee to receive a loan offer. In addition to the down payment, closing costs include sales tax, processing fee, and title and registration fees. These fees are financed into your loan amount.

The process of verifying and approving your closing documents takes 1 to 3 business days. We release the funds for your loan as soon as your lender has verified your closing documents are accurate and correctly signed. Any issues with your closing documents or missing insurance may delay this timeline.

If there is a lien, we will work out the details of the payoff with the seller and their lien holder. We pay off the lien directly to ensure a free and clear title for transfer into your name.

Approvals are typically good for 30 to 45 days depending upon the lender. We advise you to close at least 10 days before your approval expires to allow time for funding.

We can usually have a decision to you within 1 to 2 business days. From application to closing it is normally a 3-7 business day turnaround depending on how long it takes for you to send any usable and valid documents we may request.

We are unable to finance units whose title lists them as salvage, rebuilt, flood damaged, or any other type of branded title.

In most cases, it is necessary for us to use an independent 3rd party vendor to complete the titling and registration. Where required by law, for Dealer purchase transactions, the dealer is responsible for completing title and registration. In certain purchase and refinance transactions, the borrower may be required to complete title and registration.

Documents required to transfer ownership into your name vary from state to state and may also depend on the type of transaction. You will be provided with a checklist indicating what title documents are needed when you receive your loan package. It is very important to deliver all the documents requested within 5 business days of your loan funding.

Yes, the title is needed to secure our lien and update your registration with the new lienholder information.

If you are unable to provide the required documentation within 5 business days of funding your loan, you may incur additional fees including state penalties.

Each state varies in length of time that it may take to process the title work.  The standard time to receive your plates and registration is 6 to 8 weeks after your loan funds; however, your experience may vary.

Yes, you can purchase from anyone in the United States as long as we are able to verify current ownership of the seller.