Typical Loan Requirements

Navigating the process of financing an RV or boat purchase can be confusing, especially if it's your first time. At Newcoast, we make your financing experience straightforward, removing any guesswork and providing you with the necessary information. To ensure a smooth process, it's essential to be prepared with the required documentation. Here's a simplified list of what you need:

1. Personal Information:

  • Social security number or equivalent
  • Driver’s license or state ID
  • If not purchasing personally, provide trust details or business identification

2. Financial Details:

For loan amounts above $250,000:

  • List of assets and debts
  • Proof of income for the past two years

For loan amounts below $250,000:

  • A simple credit application is all that is needed in most circumstances

Breakdown of the Main Loan Requirements:

1. Credit:

  • A good credit score and history are crucial for approval and lower interest rates
  • Check your credit report for errors
  • Consider a cosigner if needed

2. Purchase Type:

  • Information about the RV or boat (year, make, model, price)

Newcoast can facilitate purchases for private party transactions, brokerage, and dealerships—whether the boat/RV is new or used, we can assist in the closing.

3. Current Debt:

  • Debt to income and payment to income ratios

This is one of the of most important measurements all lenders will consider. Here at Newcoast, we will pre-calculate these figures for you to ensure the right lender is chosen.

4. Loan Type:

  • Research and choose a loan type that fits your needs
  • Loan terms vary between 7, 10, 12, 15, 20 and 25-year terms

5. Downpayment and Fees:

  • Prepare for a downpayment ranging between 10-20% and associated registration/title fees

6. Lender:

  • Newcoast is a leading loan originator with experienced finance experts
  • We work with a network of quality lenders to offer competitive rates
  • Call (866) 639-2627 or visit for personalized loan or insurance plans

By understanding and preparing these elements, you'll streamline the financing process and make informed decisions about your RV or boat purchase.

Newcoast is a leading insurance and finance provider in the marine and recreational industry. Newcoast offers competitive and customized boat loans and RV financing options, as well as tailored boat insurance plans and RV insurance programs with robust carrier options, industry-leading experience, and access to world-class partners. To obtain a loan or insurance plan that’s right for you and your boating or RV lifestyle, call (866)639-2627 or visit



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