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Here at Recreation Finance, we feel the process of obtaining a boat or RV loan should be confusion free and an enjoyable experience. We want our customers to be well informed throughout the loan process, and therefore have put together a general description of what to expect when applying for a loan.

We can provide you with a verbal rate quote prior to submitting an application but first must have specific details about your loan request. These include: amount to be financed, your approximate credit profile, and a brief description of the boat or RV. Rate quotes and terms are only an estimate, and are subject to change, based on information gathered from your credit report, collateral type and value, formal lender review and approval.
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By completing a loan application, we are able to verify personal information, credit history, collateral information and down payment in order to receive a formal loan decision from the lender. The information gathered from the application will allow us to provide you a qualified rate quote and/or pre qualify you for a loan. Additional documentation may be requested prior to formal bank approval (this could include a personal financial statement and tax returns.)
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Once your application is approved by the bank; rates and terms are generally good for 30 days, but can be longer depending on the lender.
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In order to contract your loan, we will need to verify information and collect documents from both the buyer and seller. Items that are needed from the buyer include: proof of insurance, copy of drivers license, utility bill, survey (if required), proof of income, etc. We will need the seller to provide copies of ownership documents, i.e. current registration, MSO/title, purchase agreement/bill of sale, and any payoff information, if applicable.
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Once all information has been received and verified; loan documents are generated and sent to you via overnight delivery for your signature. You will need to sign all paperwork where noted and return documents to our office. Your prompt attention is necessary to fund your boat or RV loan quickly.
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Executed documents will be processed and sent to the bank for review and funding approval. Loan funding is subject to bank acceptance of the executed documents. Once funding notification is received from the bank, proceeds are generally dispersed the following business day.
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In order to transfer ownership and record the lien, title and registration documents will be filed with the respective state in which the boat or RV is to be registered. U.S. Coast Guard Documentation may be required by the lender for boats that meet the requirements for Documentation; generally vessels 26’ and longer. This process will ensure the vessel is free and clear of any liens, and secures the banks interest at the federal level.