Can I Finance A Tiny House?

Created by Tomasz Jóźwik, Modified on Thu, 11 Jan 2024 at 06:49 AM by Tomasz Jóźwik

If you are wanting to live and own a tiny house but don't have the cash upfront to purchase it, there are several options you have to secure financing for your tiny house. Here are a few of the best options to take for financing your tiny house purchase. Here are a few examples of financing you can get for your tiny house.

Personal loan: A personal loan is an unsecured loan. This means if you get a personal loan, it will be based on your creditworthiness and doesn't require that you post collateral that you own. The better your credit score is, the lower your interest rate will be. When you acquire a personal loan, the lenders rarely place restrictions on what you do with the money. Apply for financing here.
Recreation Vehicle (RV) loan: If your tiny house will be on wheels, you could consider an RV loan. These loans area available if you purchase your tiny house from a tiny house builder that is RVIA (Recreation Vehicle Industry Association) certified. This option also makes alot of sense if you plan to travel or move in the future and stay in RV parks since many (certainly not all) require this certification.
Home Equity Line of Credit (HELOC): If you have equity in your current home, you could pull that equity out in the form of a loan and use that money to purchase a tiny house. This would be a good option for those wanting to downsize then sell their home, or for those wanting to purchase a tiny house as an investment such as using it as a vacation rental for income.
VA Loan: VA Loans are possible if you plan to build your tiny house on a foundation or can get your tiny house on a foundation that is suitable for local and state building codes. If you quality for a VA loan, we recommend calling 877-827-3702 to let the VA know what you're trying to do.
Traditional loan: You may quality for a traditional loan if your tiny house is built up to state or local building codes. Many areas require a minimum amount of square feet to occupy and a financing company will require the house be built to those codes.

If you need assistance in financing a tiny house, be sure to contact our support team using the blue support chat bubble at the bottom right-hand of our website to get the conversation going.

At Tiny House Listings, we do not believe in taking on debt unless it is a means to an end. For example, purchasing a tiny house where the payments are equal to or less than rent in most places that can be paid off in only a few years, we feel is a wise investment. Not to mention the savings you'll benefit from by actually living in your tiny house.