Are you ready to buy the Tumbleweed tiny house you have visualized putting on a beautiful piece of property?

The RV loan process can be daunting when you don’t know the ins and outs, so we put together a list of three things to be aware of to help get you prepared to go tiny.

#1 Have at least a 20% down payment saved up

#2 A credit score of at least 680 is what to aim for

#3 Find a place to put it

When our devoted Tumbleweed nation people come in to buy a tiny house and aren’t prepared to secure the RV loan, we are heartbroken. It’s our pleasure when our clients can have the Tumbleweed of their dreams, without a struggle to obtain their financing. Our Tumbleweed Tiny House Sales Consultant walk away from the attempt just as disheartened as our clients might be. Meeting the loan criteria before applying for the loan will make it a good experience instead of a challenging experience.

A downpayment of 20% is pretty standard for RV loans; but for those with excellent credit, a 15% down payment is common. Occasionally, we can still get you approved with a credit score below 680 but our lenders will oftentimes require a 30% down payment.

Besides a good credit score, lenders look at your DTI (debt-to-income) ratio to ensure you can meet payment obligations and are not over-leveraged. We recommend a DTI of under 35 to ensure we can get you approved. Something as simple as paying down a credit card before you apply could increase your chances to get approved.

Finding a place to put your Tumbleweed can be a challenge also. Tumbleweed tiny homes are certified recreational vehicles. You can take them to mobile home parks, RV parks, outdoor spaces and rural communities. Depending on your local zoning you might be able to park them in your backyard.

If you do fall short of the credit score and down payment requirements, we won’t give up. We are here to help you meet those goals. Call our Tumbleweed Tiny House Sales Consultants to discuss the options, or start a savings plan. If we are aware of your situation, we can point you in the direction you should take. We will also be cheering you on!

It’s easy to fall into despair if you are facing challenges. If you don’t give up on yourself, you can move closer to your goal of meeting the criteria. Keep dreaming big, chip away at it, and when you go tiny, we will celebrate with you.

If you know you have what it takes, prequalify here.

A friend of Tumbleweed: Shawna Renée

Creative Services & Marketing professional
Loves tiny houses and the social impact they bring to the table.

**Opinions are my own

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