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Purchase FAQ
We offer a wide variety of loan products to meet your specific needs on any purchase transaction.
How do I know what my loan rate will be?
Rates vary primarily based on the type and purpose of the loan, your credit history and income, loan amount, and aircraft value.
How do I qualify for a loan?
We use specific criteria to determine if you qualify for a loan and the amount you can qualify for. You can use our Calculators area to determine whether you can qualify for a loan, the types of loan products that are best for you, and many other things. HFP allows you to apply and get approved right here online – it’s fast, easy, and free (HFP charges no application fee).
How much can be borrowed on an aircraft?
We can lend up to 90% of our aircraft valuation or purchase price whichever is less.
What is needed in order to start the application process?
We need a completed HFP application (available on line) along with a spec sheet on your aircraft and the last two years of IRS tax returns.
How long does the approval and closing process take?
Typically we offer same day approval and the next business day closing.
Refinance FAQ
How do I know what my loan rate will be?
Rates vary primarily based on the type and purpose of the loan, your credit history and income, loan amount, and aircraft value.
How do I qualify for a loan?
We use specific criteria to determine if you qualify for a loan and the amount you can qualify for. You can use our Calculators area to determine whether you can qualify for a loan, the types of loan products that are best for you, and many other things. HFP allows you to apply and get approved right here online – it’s fast, easy, and free (HFP charges no application fee).
How much can be borrowed on an aircraft?
We typically lend up to 80% (with a maximum of 90%) of our valuation of your aircraft.
What is needed in order to start the application process?
We need a completed HFP application (available on line) along with a spec sheet on your aircraft and the last two years of IRS tax returns.
How does my current loan get handled?
Upon your authorization we contact and coordinate directly with your current lender providing the necessary documentation and funds to pay it off.
How long does the approval and closing process take?
Typically we offer same day approval and the next business day closing.
Upgrade FAQ
How do I know how much equity I have in my aircraft?
Your airplane equity is the value of your interest, including improvements, in your aircraft after subtracting the unpaid loan balance and outstanding liens or claims against the aircraft. The market value of your airplane equity increases as you pay off your loan and as it appreciates in value. When all loans an liens are paid off you have 100% equity in your aircraft.
How much can be borrowed for upgrades?
We typically lend up to 80% (with maximum of 90%) of our aircraft valuation on refinances.
What is the process of receiving funds for upgrades?
If there is sufficient equity in your plane, loan funds may be advanced prior to any upgrades. Otherwise loan funds are typically made available upon the completion of upgrade work and upon your concurrence. In an event, no interest is charged on funds held in escrow for upgrades until the funds are disbursed.
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