Planning on buying rv to live in
My lease is coming up, and so's the rent. Apartments for where I'm looking are almost up 500 from what I've been paying. I put a post on Craigslist to look for people who'd want to pitch in on renting a house or something. I'm holding off on contacting a realtor.
It looks like I can purchase a class c RV (meaning my current license legally permits it) with 15% down with payments lower than 700. Credit Karma calculated a $15000 loan for my credit, 25% apr 5 years, and it was like $457. So that's about 1100, what I'm paying for rent now, not including all utilities. At that point I could easily afford a 200 max lot fee somewhere. It also gives me like a ticket out of here, to make a base of operations somewhere while I go to college.
I've heard a lot of news about how the Corona virus has influenced people's ability to get loans, does anyone know more about this? I live in South East America, banked with wells fargo for years. My Credit score is 563 sadly but if I could talk to WF for example they could easily see my income and that it's essentially what my current rent is and it would become my home. I can prove I'll always have income, I'm valuable in a restaurant and I've seen a lot of signs for 15-20 and combine that with OT. I also have a retention bonus coming up March and September next year, 2500 both times. And I do have my deposit at my current apartment to consider I suppose, a thousand bucks
Do you guys think it's possible? I've heard bad things about WF so it wouldn't surprise me if that's a dud. There's a one main financial near my job, I've seen them online but didn't know they had brick and mortar locations.
I'm just trying to figure out my housing situation. Seems like an interesting option, an RV. Like I said it'll get me to a good college and from there who knows. Otherwise I've honestly felt conflicted with being able to rent an apartment out of state.