Financing Overview
Choosing the right financing option for your tiny home is an exciting step toward turning your dream into a reality. Below, we’ve outlined the most common financing options for tiny homes, with options tailored to both park models and ADUs.
Chattel Loans
Chattel loans provide flexible terms, with loans ranging from 5 to 20 years, as well as quick approvals, making them ideal for tiny homes on leased land, in communities, or on family property. They work well for homes on wheels or non-permanent foundations, offering placement flexibility.
Personal Loans
Personal loans offer fast, flexible funding for tiny homes, covering not just the home but also upgrades, delivery, and setup. With shorter terms (2–7 years) and no usage restrictions, they provide quick approval and financial freedom without being tied to the property.
RV Loans
RV loans are ideal for park model tiny homes on wheels that meet RVIA standards, offering 5–20 year terms with fixed or variable rates. Designed for mobility, they provide manageable payments for buyers who want their tiny home to function like an RV.
Home Equity Loans for ADUs
If you’re financing a tiny home as an ADU (Accessory Dwelling Unit) on your property, a home equity loan or a home equity line of credit (HELOC) can be one of the best financing options. These loans leverage the existing equity in your primary home to fund the ADU’s purchase and installation and often feature lower interest rates, longer repayment terms, higher loan amounts, and possible tax benefits.
Flexible Financing for Your Unique Lifestyle
At NW Tiny Homes, we’re here to help you connect with trusted lenders and guide you through the financing process. Contact us today to get started!