Tiny Homes Solutions

Finance/Insurance

Finance Options

Remember that a stick built model and the land can be financed through a conventional mortgage.

A few people will find enough equity in their current home to downsize to a tiny home and be able to avoid having to finance their Tiny Home. However this may not be the majority and it is a common belief to think that it is hard to find funding for Tiny Homes. Until recently this is true but there are a few options for getting funding for tiny homes.

Types of Loans

Taking out a line of credit on a current home or asset is a common form of financing a Tiny Home. This would be an option if you are buying a tiny home as a second home or a vacation getaway.

The most common type of loan for a tiny home is a “personal, unsecured loan”. These loans are called signature loans because you aren’t required to put up collateral. The bank will look at credit score, work history, and debt to income ratio, etc… His lenders have financed Tiny Homes in all 50 states.

Loans can generally be obtained for up to $100,000. RVIA certified loans can be obtained for around 3% interest and signature loans can generally be obtained for around 6%APR. The application process generally takes 10 minutes.

Remember that a stick built model and the land can be financed through a conventional mortgage.

Insurance Solutions

Yes…. you should get protection/ auto and towing insurance for your Tiny Home.  It’s a good idea.

Homeowners Insurance

Once you live in your Tiny Home you will most likely want to get homeowners insurance just like a normal house. You may want to start with renters insurance and eventually move to a full homeowners policy.

As the Tiny Home movement gets larger it is becoming easier to get a full homeowners policy. If you build on a foundation and have a building permit you will be able to get conventional insurance. There are now even companies that will offer Tiny Home Insurance.  Get in contact The Tiny Home Co.  for referrals or with questions. The Tiny Home Company builds as much is possible, to strict IRC code and standards. RVIA Certification is available if requested. A detailed Bill of Sale will come with your Tiny Home to ensure that you have everything you will need to be insured.

Insurance for Towing (Towing Services not offered by The Tiny Home Co)

Homeowner’s protection/ auto and towing insurance for your Tiny Home

Insurance for Towing (Towing Services not offered by The Tiny Home Co) There are two ways to look at insurance for towing your tiny homes. If you have bought an RVIA certified model you can get conventional RV insurance for your Tiny Home. Remember that you will have to get license plates and pay sales tax at registration with this option. Also RV’s are not intended to live in year round so any type of conventional home owner’s insurance would be out of the question.

The second way of insuring your tiny home is a bit more complicated if you don’t go with an RVIA model. To do this you will need an insurance agent to talk to an underwriter. They will classify your tiny home as a modular home and then get insurance as a part of a commercial trucking policy. You then need to hire a towing company that traditionally moves and sets up modular or mobile homes. The Tiny Home Co. deals with several and will help with this process. They will have the proper permits for the oversize load and the knowhow of moving tiny homes. This may make you feel better. There are a few more hoops that may arise and we can help you figure this part out.

Please contact us with any questions.

Zoning Solutions

The Tiny Home Company works closely with your governing agencies to help the consumer make the right decisions and planning ahead when considering tiny home living. Whether the consumer has questions with financing, Insurance, zoning, or building code The Tiny Home Co. has a solution that will most likely work for the consumer.