Tiny Home Loans

Program Overview

Tiny Home Loans provide specialized financing for tiny homes and small footprint dwellings. These programs are designed for borrowers who want to embrace minimalism, reduce living costs, or live a simpler lifestyle in a smaller, more efficient space.

What is a Tiny Home?

A tiny home is typically defined as a dwelling under 400 square feet, though definitions can vary by location. These homes feature:

• Small Footprint: Usually under 400 square feet
• Efficient Design: Maximized use of space with smart design
• Affordability: Lower cost than traditional homes
• Sustainability: Often built with eco-friendly materials
• Mobility: Some are built on wheels for portability

Key Benefits

• Affordability: Significantly lower cost than traditional homes
• Lower Utility Costs: Reduced energy consumption and maintenance
• Simplified Living: Forces decluttering and intentional living
• Environmental Impact: Smaller carbon footprint
• Financial Freedom: Lower housing costs free up money for other priorities

Program Requirements

Credit Requirements

• Minimum Credit Score: 700
• Credit History: Good credit history required
• Credit Inquiries: Limited recent inquiries preferred
• Payment History: No recent late payments

Home Requirements

• Building Codes: Must meet local building codes and zoning
• Land Ownership: Must own the land or have long-term leasehold
• Permanent Affixation: Home must be permanently affixed to land
• Property Condition: Must be in good condition

Property Requirements

• Property Types: Tiny homes, small footprint dwellings, micro homes
• Occupancy: Primary residence only
• Location: All 50 states
• Zoning: Must be zoned for residential use

Down Payment Requirements

• Minimum Down Payment: 25%
• Source of Funds: Must be properly documented
• Gift Funds: Allowed with proper documentation
• Asset Verification: Down payment source must be verified

What to Expect

Step 1: Home Evaluation

We'll evaluate your tiny home plans or existing structure to ensure it meets our requirements and local building codes.

Step 2: Land Verification

We'll confirm your land ownership and verify that the property is zoned appropriately for tiny homes in your area.

Step 3: Loan Application

Complete the mortgage application with our tiny home specific underwriting process. We'll guide you through the documentation requirements.

Step 4: Appraisal Process

A specialized appraiser familiar with tiny homes will evaluate your property. They'll assess both the home and land value.

Step 5: Closing & Funding

Once approved, you'll proceed to closing with terms that reflect the tiny home nature of your property.

Who This Program Helps

• Minimalists wanting to simplify their living space
• First-time homebuyers looking for affordable options
• Retirees wanting to downsize and reduce costs
• Environmentalists seeking sustainable living options
• Those wanting financial freedom through reduced housing costs

Avery Brooks Mortgage

• Phone: (555) 123-4567
• Email: avery@averybrooks.com
• NMLS: #1234567

Tiny homes offer a unique opportunity to live simply while building equity and reducing your environmental footprint.