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How to Refinance Your Florida Tiny Home

Posted by Brent on December 22, 2022

The trend of going green, and downsizing has led to an explosion of tiny homes in the United States. Coast to coast, thousands of tiny homes are popping up each month in every city, coastline, rural America, and metro areas. Many of these homeowners are first-time home buyers who are looking to have a high standard of living, at a much lower cost. The price of homes in America is over $300,000 for a home and tiny homes give a different lifestyle at a lower price point. One factor with so many tiny homes is that many of these homeowners at some point will want to pull equity or refinance their tiny home.

Most tiny homes are 300 to 700; some larger ones 800 to 900 square feet, and the price can range from $30,000 to well up to $200,000 for high-end customized homes.  One important factor for tiny homeowners in Florida to consider if you're going to pull equity out of their home or refinance is you will need to own their own land and it must be on a permanent foundation.  Florida has many specialized tiny home communities popping up and this trend in housing is set to grow at a rate of 20% to 30% per year for many years to come. Our private investors will give you a tailored home to fit your refinancing needs for your tiny home and determine the best value for you to borrow against.  We have closed any tiny home refinances and understand all the complexities and particulars that go with the tiny home market. Also, you need a good appraiser who has done tiny home appraisals as well.

How to Refinance or Get Cash Out of My Tiny Home

  • Our Investor will go and inspect your property to determine a value
  • No credit is needed. It's based on the equity in your tiny home and land
  • You must be able to prove and show income either w2 or bank statements.
  • Must own the land
  • It must be on a permanent concrete foundation
  • You must live in Florida
  • If you are self-employed: okay
  • You must have plenty of equity or the tiny home must be free and clear
  • Ideally a half-acre of land but we will consider less
  • Must submit basic documentation to the underwriter

How Long Will It Take to Get My Tiny Home Refinanced and Get My Cash

  • You will submit your application
  • The investor will inspect your property
  • They will get documents from you
  • Then the underwriting team will order the title and appraisal.
  • They may require a letter of explanation
  • Once your title and appraisal come back, it's then time to close. The normal time is around 14 to 21 days until closing time.

There are many different reasons people will refinance or borrow against the equity in their tiny home - here are a few:

  • Pay off Liens or Judgements
  • Debt Consolidation
  • Home Improvements to your tiny home or land
  • Pay off property taxes
  • Medical expenses, college tuition
  • You want to purchase another property
  • Business opportunities
  • Vacations, weddings, and a host of other reasons.

Why Use a Hard and Private Money Company to Refinance My Tiny Home

  • Conventional lenders haven’t caught up to the tiny home market yet
  • No upfront costs or fees
  • You can close in 21 days or less
  • No credit required
  • Make sense underwriting
  • Quick fast, easy streamlined loan process
  • Self Employed Borrowers okay
  • Our underwriters and private money lenders understand the tiny home market and can give you the best loans available on the market today

If you're considering refinancing or pulling equity out of your tiny home please consider the experience of our team of expert underwriters and private investors. Call us today!

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