Forest River has launched a new financial services business, and one of its first products gives RV buyers an unusual financing option: using home equity to help pay for an RV.
The new Forest River Homeline Card combines a home equity line of credit, or HELOC, with a credit card. According to Aven’s announcement of the program, qualified homeowners can access credit lines of up to $400,000, with no required down payment and repayment terms stretching as long as 30 years.
Forest River and Aven are calling it the RV industry’s first co-branded HELOC.
Your home secures the credit line
The Homeline Card works differently from a typical RV loan.
With a HELOC, the borrower uses home equity as collateral. Aven confirms that a lien is placed on the home when a HELOC account is opened. Aven explains how the lien works here.
That creates a much different risk for an RV buyer.
With a traditional secured RV loan, the RV itself is generally the collateral. With the Homeline Card, the debt is backed by the borrower’s home. The Consumer Financial Protection Bureau warns that borrowers who cannot repay a HELOC could ultimately face foreclosure.
For many buyers, that may be a difficult tradeoff to justify. An RV typically loses value over time, while a home may represent one of the owner’s largest financial assets. Using home equity to buy a depreciating recreational vehicle puts a much more valuable asset behind the debt.
In some cases, the math could work in a homeowner’s favor, especially if someone has substantial equity, qualifies for a lower interest rate, and plans to repay the balance quickly. But the lower monthly payment Forest River promotes can also come from spreading the debt over a much longer period.
A 20- or 30-year repayment schedule can keep monthly payments down while increasing the amount of interest paid if the balance remains outstanding for years.
No down payment is required
Another feature that could stand out to RV shoppers is the lack of a required down payment.
Aven says qualified buyers can use the Homeline Card to finance an RV with no required down payment. For comparison, the RV Industry Association’s latest lender survey found that buyers using retail RV loans made an average down payment of 17.6% in 2025.
That makes it possible for a buyer to purchase an RV without putting much cash into the deal upfront. It also means the buyer could begin the loan with a large balance secured by home equity.
Aven says buyers can receive a prequalification offer in as little as three minutes and, if approved, gain access to their HELOC in as little as three days.
The credit line can also be used beyond the initial RV purchase, including for aftermarket equipment, service plans and other expenses.
The advertised 5.99% rate comes with conditions
The Homeline Card advertises variable annual percentage rates starting at 5.99%, but that rate is reserved for the most qualified borrowers and comes with some limits.
According to Aven’s current terms for the Forest River program, the headline rate is available only for credit limits of $30,000 or less. Rates depend on factors including creditworthiness and the value of the property securing the loan.
The revolving rate is variable and tied to the prime rate. Aven currently caps the Homeline Card’s variable APR at 14.99%.
The program also offers fixed-rate payment plans. Cash-outs and balance transfers carry a 2.5% fee, and borrowers in some locations may also face recording, signing, or attorney fees.
Forest River wants to make financing easier for its dealers
The Homeline Card is part of Forest River’s broader push into financing.
The company recently formed Forest River Financial Services and partnered with both Aven and Octane. A separate program, Forest River Finance, powered by Octane, will provide more traditional RV financing through participating dealers, with loans underwritten by Roadrunner Financial. Octane announced that program on September 24.
Forest River has been open about its goals.
President and CEO Doug Gaeddert said the company had heard from dealers about the margin pressure they are facing. CFO Darrel Ritchie said the new programs are intended to protect dealer margins while generating additional sales opportunities, according to RV News’ report on Forest River Financial Services.
The Aven program also rewards customers for continuing to spend at Forest River dealerships. Homeline Card users can receive 3% cash back on up to $50,000 in qualifying annual purchases at participating Forest River dealers.
Forest River isn’t the lender
Forest River is putting its name on the program, but it is not directly lending homeowners the money.
Aven provides the technology and financial infrastructure. Aven says the Forest River Homeline Card is issued through Coastal Community Bank, an FDIC-insured bank and equal housing lender.
The program is initially available through participating Forest River RV and marine dealers in the United States.
For buyers with significant home equity, the Homeline Card adds another financing option. But it also changes what is at stake. Instead of securing the purchase primarily with the RV, the borrower is putting home equity behind a vehicle that will generally lose value over time.
For anyone considering the program, the interest rate and monthly payment are only part of the calculation. The length of the loan, total borrowing cost, and the fact that the debt is secured by the borrower’s home deserve just as much attention.
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