stevetheb
Occasional Contributor

My wife and I want to invest in a tiny house for our family, and have something that can move with us so we have a home wherever we go. Does anyone have experience with financing? I've read that some go through RV loans, but I would like to avoid this and RV insurance fees. Thanks for the advice in advance.

 

23 REPLIES

I don't know what the downside to an RV loan or RV insurance is, but I'm also interested in obtaining a loan for a mobile tiny house. Is there anyone who can help with this? http://en.wikipedia.org/wiki/Small_house_movement


Whaleshead RV Park, seven miles north of Brookings,Oregon have had tiny cedar homes for over twenty years experience, check them out if you want to change to that lifestyle. I lived aboard the Lion's Whelp a ninety-two foot Gaff rigged 

Schnooner in Brookings,

I asked USAA about financing a tiny house and they replied:
"In reference to the RV that you are interested in, we are unable to finance vehicles that may be used to live in. You are very welcome to call our RV loan origination specialists to discuss any further questions."

Interesting. Good thing you don't have to call it a vehicle. I think I will send them the tumbleweed site and see if I can't find a specialized loan officer.

I called USAA about this as well, especially seening USAA being mentioned on Tumbleweed's website.  The finacail advisors and loan officers could give me any info, as they didn't have a clue. They said each USAA branch approves loans independently. He advised me that maybe the USAA offices in CA might do them independently. I will be looking at Navy Federal, or just saving. If I can save 30-50% of total cost, I could apply for a personal loan to cover the rest. 

We haven't looked into RV loans yet, but we went into the USAA branch to talk about loans. First off, VA loans will not cover anything with wheels. However, from what we gathered, there are mobile home loans, and RV loans available through different lenders. We asked USAA about a personal loan for $40,000, and got approved at around 7%. Payments were around $600/month. So this is an option. We will still be shopping around and see what RV loans, mobile home loans, and other institutions offer for personal loans. I hope this helps. For the record, we have good credit.
Also, I believe Rich's Portable Cabins offer financing (good-looking wooden cabin-styled park-models and RV sized). If you were to put a tiny home on a foundation, you could also maybe swing the VA loan. And for those of you looking for a portable house with a small family of four, check out rockymountaintinyhouses.com.

I'm psyched to see tiny house talk on USAA!  My husband and I are living in a Tumbleweed tiny house in Alaska and LOVE it.  If any of you would like to talk or have tiny house questions, send your contact info to Tumbleweed and ask them to forward it to the Air Force folks in Anchorage.  Good luck, all!  The logistics of building are certainly a headache but it's worth it!

epic,

 

How did you insulate yours tumbleweed for Alaska