Will banks finance tiny houses?

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asked Oct 7, 2019 in Real Estate - Renting by gulionbinoy (310 points)
Will banks finance tiny houses?

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answered Oct 7, 2019 by Carrie123 (4,500 points)
A bank might finance a tiny house but not with a traditional home loan or mortgage.

A tiny home when financed by a bank would be considered an RV if it's on wheels and can easily be moved and it would be considered an RV due to the size of the tiny home.

A bank might give you an RV loan and finance the tiny home purchase that way.

Or you might be able to get a personal loan in the amount the tiny home costs and finance the tiny home that way as well.

Another option to finance a tiny home is if you currently own a regular home and have a mortgage on that home is to take out a home equity loan to pay for the tiny home.

Or sell your current home and buy the tiny home with the money and have some money leftover.

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