Put your loan to work right now and get on your way as a better trained, more proficient pilot.
Our flight training loan is not a typical student loan. It is a line of credit that can be used for any flight training school or program. You can use the funds to pay the school directly as you make your way from private pilot to instrument pilot and beyond.
* Payments are based on the following loan amounts; $6,000-12,000 PPL, $7,000 instrument rating and $3,000 multi rating. Flight training costs vary by location, aircraft and other factors. These are minimum required monthly payments based on the loan amounts noted. $25 for every $1,000 borrowed.
Before you get started here’s a list of things you will need to complete the application process:
Before you get started here’s a list of things you will need to complete the application process:
This will be worked out with the lender during the closing process, you have two options. An account will be created, and then you may request a:
Here’s an easy calculation to help you determine the loan amount you should apply for given your monthly gross income. If you have a credit score of 761 or better, and assuming no additional debt, take your gross monthly income and multiply it by 2, the result will be your qualifying loan amount. For credit ratings between 721 and 760, multiply your gross monthly income by 1.5, and the result will be your qualifying loan amount. For credit scores 720 and under, multiply your gross monthly income by 1, and the result will be your qualifying loan amount.
Here are some examples:
| Credit Rating | |||
|---|---|---|---|
| Monthly Gross Income |
761+ | 712-760 | 720 and under |
| $2,500 | $5,000 | $3,750 |
$2,500 |
| $5,000 | $10,000 | $7,500 |
$5,000 |
| $7,500 | $15,000 | $11,250 | $7,500 |
| $10,000 | $20,000 | $15,000 |
$10,000 |
Call now to speak with one of our aviation loan specialists. They will take the time to understand your needs and build the right finance package for you.
Have additional questions? Feel free to contact us or call us at 800.627.5263