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Get Aircraft Loan Application
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How to fill out the aircraft loan application online
Completing an aircraft loan application online can seem daunting, but understanding each section can simplify the process. This guide provides clear, step-by-step instructions to help you successfully fill out the application.
Follow the steps to complete your application effectively.
- Click ‘Get Form’ button to obtain the form and open it in the editor.
- Begin with the borrower information section. Fill in your last name, first name, and middle initial. If applicable, provide the co-borrower's information as well, including their last name, first name, and middle initial.
- Enter your address details, including your current address, city, state, and zip code. Indicate how long you have resided at this address.
- Complete the contact information fields, including mobile phone, home phone, work phone, and email address. Remember that your email address will be kept private.
- Indicate your U.S. citizenship status by checking the appropriate box.
- Provide your Social Security number and driver's license number, ensuring to keep this information confidential.
- Fill out your employment information, including employer name, job title, gross monthly income, and how long you have been in your current position. If you have worked less than two years at this job, include your previous employer’s information.
- Enter details about any other income you wish to have considered in your loan application. Also, indicate your marital status.
- In the debts and obligations section, provide information on any creditors, debt types, monthly payments, and current balances.
- Complete the pilot information section by indicating if you have an IFR rating, your pilot name, and total flight time. Fill in additional information regarding your license type and medical class.
- In the aircraft information section, fill in the year, make, model, N-number, serial number, and whether it has been hangared.
- Provide at least three references, ensuring two are not family members. Include their names, relationship to you, and phone numbers.
- If applicable, describe any damage history and include details on avionics and insurance information.
- Once you have completed the application form, ensure to read the acknowledgement and agreement section carefully. After reviewing, provide your electronic signature and date.
- Finally, save changes, download, print, or share the completed form as needed.
Submit your completed aircraft loan application online today.
To successfully complete your aircraft loan application, a good credit score is essential. Generally, lenders prefer a credit score of at least 680 for financing a plane. This score demonstrates your reliability and ability to repay the loan. However, if your score falls below this threshold, you may still find options available through specialized lenders who consider other factors in the aircraft loan application process.
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