Untraditional personal loans for untraditional houses

You’ve chosen to live your life differently. So why overcomplicate a simpler existence with complex financing?

An Eloan personal loan1 can be used for a tiny house and can be the fastest, easiest way to secure the money you need to get the (micro) home you want.

Whether you’re looking to buy a tiny house starter kit, construct a mini cabin for mountain adventures, or make your own mobile dream bungalow, you can use an Eloan personal loan to pay for the necessary resources and construction materials.

No down payment, appraisal, or RVIA certification required.

Affordable Interest RatesAffordable Interest RatesLow, fixed rates starting at 7.99% APR
Get up to $35,000 Get up to $35,000 Pay for everything from your tiny house trailer to a big celebratory cake when you’re ready to move in
No Origination Fees. No Prepayment PenaltiesNo Origination Fees. No Prepayment PenaltiesNo hidden costs, no annual fees, and no early payment penalties
No Down Payment Necessary. No Certification Required.No Down Payment Necessary. No Certification Required. Prequalify in minutes by completing our easy online application
Fast MoneyFast MoneyGet access to cash as soon as the next business day2
Flexible Payment TermsFlexible Payment TermsCustomize your payback period, from 24 months to 5 years



How a Personal Loan for a Tiny Home Works? 

Getting financing for a home is usually no small affair, but in the case of a tiny house, it’s surprisingly easy.

That’s because it’s actually not possible to get a formal mortgage from most lenders, as the cost of a tiny home is below most banks’ mortgage minimum requirements.

That means that instead of dealing with the pile of paperwork and the painstaking approval process that comes with a mortgage, you can rather enjoy the simple, seamless process of getting an Eloan personal loan.

This kind of loan is an unsecured loan, which means it doesn’t require a down payment or any kind of collateral, like home equity, to qualify. Rather, lenders evaluate borrowers based on factors like credit score and employment status, among others, to decide how likely they’ll be to make their monthly repayments on time.

It’s also entirely up to you how you use the money from a personal loan once you receive it. There are no restrictions — it gives you the power to cover any tiny house construction cost under the sun.

 After you’re approved, the cash will be deposited in your bank account all at once, and then you just need to make repayments for the money you borrowed in regular monthly installments. You choose the terms of your repayment period, and you can also rest easy knowing that personal loans are fixed rate loans, so the amount you pay each month won’t change.

Apply From Anywhere at Anytime

How Eloan Works

How Eloan Works - 1 How Eloan Works - 2 How Eloan Works - 3
Complete our easy online application

Prequalify in seconds3

Check your tiny house financing rates

Pick the payment period and rates that fits your budget

Get funded for the tiny home of your dreams

If approved, you’ll receive the lump sum in your bank account as soon as the next business day.2

How Eloan Works - Step 1 How Eloan Works - Step 2 How Eloan Works - Step 3



How You Can Use Tiny House Financing?

Do it yourself tiny house kits 
Move-in ready micro homes 
Tiny home Tow trailer  
An exterior tiny house shell  
Tiny house tools and building materials  
Specialized tiny house appliances 
How Eloan Works - Step 1 How Eloan Works - Step 2 How Eloan Works - Step 3
Complete our easy online application

Prequalify in seconds3

Check your tiny house financing rates

Pick the payment period and rates that fits your budget

Get funded for the tiny home of your dreams

If approved, you’ll receive the lump sum in your bank account as soon as the next business day.2

How You Can Use Tiny House Financing?

Do it yourself tiny house kits 
Move-in ready micro homes 
Tiny home Tow trailer  
An exterior tiny house shell  
Tiny house tools and building materials  
Specialized tiny house appliances 

Ready to Start a New Adventure with us?

Check Your Rates

Checking your rates will not affect your credit score.

Our Clients Are Happy!

Our Clients Are Happy!

What’s the Best Tiny House Loan?

 EloanLightStream Personal LoanRV Loan
No Collateral Required      
No Certification Required
     
Zero Origination Fee
     
Next business day funds2      
Pioneer in Online Lending (Since 1998)      

*Information as of May 2019. 

 

 

FAQs

It can be incredibly simple to get tiny house financing through an Eloan personal loan1. There’s no down payment, certification, or appraisal required. You also don’t need to have any home equity. To apply, you’ll need some of the following information: 
  • Full Name
  • Address information
  • Social security number
  • Your income information
  • Your employment status
Then it’s just a matter of completing our easy online application and checking your rates and loan terms. If approved, you could have the cash in your account as soon as the next business day2.
The cost of a tiny house ranges tremendously, but it’s always cheaper to build your own than buy a move-in ready home. If you do opt to construct it yourself, the AARP reports that you can expect to pay around $23,000; whereas, the price to purchase a finished model is at least double, with some micro homes costing well over $100,000 depending on fittings, appliances, and more.
Both personal loans and RV loans are options for financing a tiny house, but that’s where the similarities end.

RV loans are often secured loans, which means they leverage your new small, simple living space as collateral. So if you don’t pay your loans, you risk losing your house. They also come with stricter eligibility requirements, with many demanding a down payment, a certification from the Recreational Vehicle Industry Association, proof that your tiny home will NOT be built on a foundation, etc.

On the contrary, personal loans are unsecured loans that don’t require a down payment, certification, home equity, an appraisal, or any sort of collateral. To qualify, lenders evaluate borrowers on factors like credit score, debt-to-income ratio, among others.

Both loans come with low interest rate options depending on your financial situation, and RV loans tend to have longer repayment periods than personal loans.
It’s recommended to have a good credit score, a healthy debt-to-income ratio and other requirements, to qualify for an Eloan personal loan for a tiny home. However, if you don’t think your creditworthiness is up to snuff, there are actions you can take to improve your credit score.

See if you prequalify3for up to $35,000 in tiny house financing today!

Get the money for your micro home as fast as the next business day2!

Check Your Rates

Checking your rates will not affect your credit score.

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