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Old 07-22-2013, 03:59 PM
 
4 posts, read 3,372 times
Reputation: 16

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After my divorce and low on cash, I've been out a "normal" residence for several months staying with friends etc.... so I don't have a street address or rent to pay as I try to get back on my feet.
I want to buy a new or used car or RV and they ask you for that as part of their financial check on your stability and rent amount.
Is it possible to get a loan without a current address and just a PO box?
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Old 07-22-2013, 06:13 PM
 
Location: SoCal
681 posts, read 2,799,675 times
Reputation: 496
If your staying with friends, why not ask them to use their address temporarily? You are, after all, living there while you get back on your feet so no reason why you shouldn't use their address.
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Old 07-23-2013, 11:27 AM
 
4 posts, read 3,372 times
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I guess I just was wondering if anyone knew of any criteria that (I should know) the banks/credit unions are looking for. IE is this a negitive point they look at? instability? Can a homeless person get a loan? :/
For me it's just a "circumstance" I'm working through.
I have a fulltime job and decent credit etc.

thank you for you comment mricu
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Old 07-23-2013, 12:14 PM
 
Location: Poway, CA
53 posts, read 112,063 times
Reputation: 67
It depends on the bank. But look into CIP (Customer Identification Program) Online Manual - BSA InfoBase - FFIEC

It states: 47 For an individual: a residential or business street address, or if the individual does not have such an address, an Army Post Office (APO) or Fleet Post Office (FPO) box number, the residential or business street address of next of kin or of another contact individual, or a description of the customer’s physical location. For a “person” other than an individual (such as a corporation, partnership, or trust): a principal place of business, local office, or other physical location.
So technically you can open accounts at a bank without a physical home address. Getting a loan is included, however the banks have the right to refuse a loan to any single person. The do have to answer for any trends, for instance only denying loans to Hispanics, or females. I can tell you were we more interested in financial aspects, than whether or not you had an address.
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Old 07-23-2013, 02:41 PM
 
4 posts, read 3,372 times
Reputation: 16
Thank you that is a big help to me.
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