19
Apr

Going Bust with the Bank

So my bank told me they "don't do" loans for Tiny Houses on Wheels. I knew it was going to be difficult finding the right kind of loan for a tiny house but to reject the concept entirely was not what I was expecting at all. They wouldn't consider me for a RV loan, they don't do Mobile Home loans and it's not a Home loan due to the tiny wheels. There fore my appointment lasted less than 5 minutes and all I got was a big fat NO.

What are we going to do now??? My husband thinks the tiny house people we are going to see talk in Dallas this weekend will have some guidance for us in the financing area but I'm not as convinced. I found an article on Pinterest by Lauren Jade Lately about how to finance your tiny house. I went ahead and submitted an application for a loan through MeetEarnest, although even if I'm approved I'm not 100% sure we'll accept the loan as it only has a 3 year time frame and that makes the monthly payments quite expensive, especially when you factor in that we will still need to rent at an RV park or rent land somewhere.

Oh well, I'm going to stop worrying about the financing of the home for a little while and go back to just thinking about how cool it'll be when we do get our tiny home. This afternoon I'm meeting with a fellow co-worker who I recently found out has been on the journey to go tiny for a while now. Last year they downsized and sold their home and are temporarily living with family until they can make their tiny house dreams come true! I can't wait to talk tiny all afternoon! And I checked out some books on tiny houses from the library - TIny House Style, ,Micro Shelters, Tiny House Living, and Tiny Homes Simple Shelters. And I've almost finished Ruth Soukup's newest book Unstuffed: Decluttering Your Home, Mind & Body. I know she doesn't specifically say people should get rid of their belongings and go tiny but that's exactly what I plan to do! I like her website LivingWellSpendingLess.com, it has some great articles about living with less. I intend to read all her work about starting your own blog as well so that my Tiny House Wife blog can spread the joys of Tiny House living.

 

19
Apr

Getting A Loan

I have today off, so I moved my meeting with the bank up from Friday to today, in one hour! I just need to know what they're going to tell me I have to do before I can qualify for a loan, and also, what type of loan I need to apply for. I need to know if a co-signer is going to be required or if I can do this with just me and my husband. I need to know how large of a down payment they're going to require. SO many questions, and I'm getting really nervous. If they laugh at my tiny home dream and tell me it's just not possible I don't know what I'll do! Days like today I wish I knew where all my makeup went. Time to get ready for the bank.

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