Tiny home retirement living is the new trend

On July 1, 2015 in Almost Anything ElseTiny Home

Tiny home retirement living is the new trend

Tiny homes are a hot trend among retirees and advocates of low-cost living. But once you shed your bulkiest belongings, how easy is it to move into a tiny home? Perhaps the biggest challenge is lining up financing, according to this article at Bankrate. While you will likely not qualify for a traditional mortgage, you may be able to buy a tiny home with an RV loan:

“… it can be easier to get financing if the home is on a mobile platform and certified by the Recreational Vehicle Industry Association, or RVIA. Then the home will qualify for a standard recreational vehicle loan with current rates between 5% and 6% for seven years — sometimes more — after a 10% down payment.”

Not many banks are lining up to make tiny-home loans. But some lenders, including LightStream, are offering unsecured loans that can be used to purchase a tiny home, says Bankrate. See the rest of the article, including perspective from LightStream’s Todd Nelson, here.