The Costa Mesa Blog by Torelli Realty

Costa Mesa Market Updates, Community News, and more!

Financing A Tiny Home

The appeal of the tiny house movement is the idea of living mortgage free.  But even affordable tiny houses cost a pretty penny.  The average tiny home running between $25,000 and $35,000, plus there is the additional cost of the land you put your house on.  Not everyone has funds like that just sitting around.  Is there an option for financing a tiny home?

Traditional lenders usually will not finance tiny homes, largely due to the fact that there are not enough comparable properties in any given area for an appraiser to determine the homes value.  Without an appraisal, there can be no loan.  Lenders might eventually determine a way to to service the tiny house movement, but until then it really comes down to knowing where to look and the loopholes to take advantage of.  Keep reading for more information and find the full article here.

RV loan

If your tiny house is on wheels and meets certain criteria, you could qualify for an RV loan. Some forward-thinking lenders, like Lightstream (a division of SunTrust), are specifically designing their RV loans to be easy for tiny-house buyers to get. Meanwhile, certain tiny-house builders (e.g., Tumbleweed) build their homes to meet all of the criteria for an RV loan and have a financing option built into their buying process.

Leave a Reply

Your email address will not be published. Required fields are marked *


Buying With Torelli Realty
Fill out the form below, please add your Name, Email Address, and Phone Number - One of our agents will contact you as quickly as possible to answer any questions you have.
Thank You! We will contact you shortly. Please check your email!
Selling With Torelli Realty
Fill out the form below, please add your Name, Email Address, and Phone Number - One of our agents will contact you as quickly as possible to answer any questions you have.
Thank You! We will contact you shortly. Please check your email!
The Coffee Cup Meet Up
We know it isn't easy to buy a home, we can help you find the one home you want with a simple Coffee Cup Meet Up. You can sign up below and we will contact you immediately or find out more information here
Thank You. We will contact you as soon as possible.