Can you get an FHA loan for a tiny house?

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asked Oct 7, 2019 in Real Estate - Renting by gulionbinoy (310 points)
Can you get an FHA loan for a tiny house?

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answered Oct 7, 2019 by Carrie123 (4,500 points)
Sometimes you can finance a tiny home using an FHA loan instead of a traditional mortgage.

FHA loans help to finance both regular site built homes and mobile homes so the FHA loan company may loan you the money to purchase a tiny home.

I've heard of a few people financing tiny homes through FHA loans and others would deny them for it.

You can usually finance up to $25,000.00 for a mobile home or tiny home through an FHA loan.

Also a regular 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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