Simplify Your Life

Consider Owning A New Tiny Home

Curious to learn more about Tiny Homes? Explore the many benefits that come with owning your very own mobile Tiny Home. 

Please complete the form above and a loan officer will contact you with more information about Tiny Homes. Liberty Bank is an Equal Credit Opportunity Lender.

Your information will be kept secure and confidential. Liberty Bank does not give out any customer information to third parties. By clicking “submit” you agree to the terms of our Privacy Policy and authorize us to contact you at your request.

Affordable

Tiny Homes are incredibly affordable! In fact, your monthly rent payments could be costing you more than what it takes to get into your very own Tiny Home.

Go Anywhere

Tiny Homes are a perfect fit for individuals who never like to stay in one place very long. The mobile flexibility of a Tiny Home enables you to get out and explore the open road!

Curious to learn more about Tiny Homes? Explore the many benefits that come with owning your very own mobile Tiny Home. 

Earth Friendly 

Do your part in being a good steward of the environment by becoming a Tiny Home owner. By using drastically less resources, Tiny Homes have a lower carbon footprint and create far less demand for fossil fuels and other energy sources.

Stress Free Living

Owners of a Tiny Home do not have to deal with many of the stresses that come with traditional home ownership - saving you money on utilities, upkeep, and maintenance costs! By helping to minimize your lifestyle, Tiny Homes create more opportunities to focus your time and energy on what matters most in your life.

Ready to take the next step? Click here to bring up our online web application – applying is quick, secure, and convenient.

Frequently Asked Questions

What exactly is a tiny home?

Tiny homes are residential units – typically under 400 square feet – that share similar traits with RVs and mobile homes. However, there are several big differences:

  • Tiny homes can be designed to be mobile, or can be converted for a stationary setting, provided there are the necessary utility hookups.
  • Tiny homes are highly customizable, and many of the manufacturers we work with are happy to install custom parts, furnishings, and even entire room spaces to fit your needs and budget.

Will I need a mortgage to own a tiny home?

  • No mortgage. A typical loan for a tiny home on wheels is a consumer loan secured by a title lien and registered with the State’s DMV.

Are tiny homes built to last?

  • Yes, tiny homes on wheels are built to be solid and sturdy by current ANSI + building standards. Liberty Bank selects qualified tiny home builders focused on tiny home issues of safety, habitability, marketability, and durability.    This builds trust and helps to address affordable and obtainable housing.

What is the interest rate on a tiny home loan?

  • Interest rates will vary depending on a variety of factors, including an applicant’s credit history and income. Initial rates can range anywhere between 12.50% and 14.75%. Contact a loan officer at Liberty Bank at 801-363-LEND (5363) to learn more.

Where can I live in a tiny home?

  • Tiny Homes are very similar to RV units; however, permanent placement is subject to local and state parking ordinances.  Many jurisdictions have communities specifically designed to host tiny homes as permanent residences. To learn more about these communities in your local area or visit https://www.tinyhomebuilders.com/help/tiny-house-parking-guide

Any other requirements?

Rates based on credit history, collateral criteria, the term of a loan and other criteria. Loans are subject to all bank policies and procedures. All loans and lines of credit require a separate application and credit approval. Terms and conditions are subject to change. Other restrictions may apply.

Liberty Bank requires all applicants to have a valid social security number, be able to provide a valid government-issued form of identification, and at least three consecutive years of work history (does not need to be with the same employer), and the last two years of tax returns. Debt-to-income ratio not to exceed 43%.

Do I need a certain credit score to qualify?

Yes, all tiny home loans with Liberty Bank require a minimum FICO credit score of 700 or above. If your credit score doesn’t meet our criteria, there are ways you can improve your score. Please visit https://www.experian.com/blogs/ask-experian/credit-education/improving-credit-score/#s2 for more details.

Is there a required down payment amount?

  • Generally, Liberty Bank requires a 20% down payment of the total purchase price.

Frequently Asked Questions

Is there an application fee? How can I apply?

There is no application fee for a tiny home loan from Liberty Bank. Applying is quick, secure, and convenient through our online application portal available here. If you would prefer, a downloadable PDF form can be obtained by right-clicking here and selecting “save-as” to save the application to your computer. You may also print out the PDF to complete.

What options do I have for tiny home loan terms?

Liberty Bank offers tiny home loans on 10-Year, 15-Year, and 23-Year terms. Certain terms may not be available for all applicants based on credit history and income. There are no pre-payment penalties with Liberty Bank, meaning you are free to pay off your loan at any time ahead of the designated term.

What if I have a specific tiny home in mind?

Liberty Bank will authorize individual models of tiny homes provided they meet the bank’s criteria and the manufacturer is a certified tiny home builder.

Who does Liberty Bank work with?

We pride ourselves in researching and forming alliances with the best leaders in the tiny home industry. In fact, some of our loan officers have visited the locations where tiny homes are built, and have seen firsthand the amount of quality that goes into the final product.  Please visit the links below to learn more about the tiny home companies we recommend:

Cornerstone Tiny Homes

TruForm Tiny

Tiny Idahomes

 

Tumbleweed

Tumbleweed

Zion's Tiny Homes

Movable Roots

Core Housing Solutions

Decathlon Constructions

Midwest Tiny Living

Frequently Asked Questions

What exactly is a tiny home?

Tiny homes are residential units – typically under 400 square feet – that share similar traits with RVs and mobile homes. However, there are several big differences:

  • Tiny homes can be designed to be mobile, or can be converted for a stationary setting, provided there are the necessary utility hookups.
  • Tiny homes are highly customizable, and many of the manufacturers we work with are happy to install custom parts, furnishings, and even entire room spaces to fit your needs and budget.

Will I need a mortgage?

  • No mortgage. A typical loan for a tiny home on wheels is a consumer loan secured by a title lien and registered with the State’s DMV.

Are tiny homes built to last?

  • Yes, tiny homes on wheels are built to be solid and sturdy by current ANSI + building standards. Liberty Bank selects qualified tiny home builders focused on tiny home issues of safety, habitability, marketability, and durability.    This builds trust and helps to address affordable and obtainable housing.

What is the interest rate?

  • Interest rates will vary depending on a variety of factors, including an applicant’s credit history and income. Initial rates can range anywhere between 12.50% and 14.75%. Contact a loan officer at Liberty Bank at 801-363-LEND (5363) to learn more.

Where can I live in a tiny home?

  • Tiny Homes are very similar to RV units; however, permanent placement is subject to local and state parking ordinances.  Many jurisdictions have communities specifically designed to host tiny homes as permanent residences. To learn more about these communities in your local area or visit https://www.tinyhomebuilders.com/help/tiny-house-parking-guide

Any other requirements?

  • Rates based on credit history, collateral criteria, the term of a loan and other criteria. Loans are subject to all bank policies and procedures. All loans and lines of credit require a separate application and credit approval. Terms and conditions are subject to change. Other restrictions may apply.
  • Liberty Bank requires all applicants to have a valid social security number, be able to provide a valid government-issued form of identification, and at least three consecutive years of work history (does not need to be with the same employer), and the last two years of tax returns. Debt-to-income ratio not to exceed 43%.

Do I need a certain credit score?

Yes, all tiny home loans with Liberty Bank require a minimum FICO credit score of 700 or above. If your credit score doesn’t meet our criteria, there are ways you can improve your score. Please visit https://www.experian.com/blogs/ask-experian/credit-education/improving-credit/improve-credit-score/  for more details.

Do I require a down payment?

  • Generally, Liberty Bank requires a 15 to 40% down payment of the total purchase price.

How can I apply?

Applying is quick, secure, and convenient through our online application portal available here. If you would prefer, a downloadable PDF form can be obtained by right-clicking here and selecting “save-as” to save the application to your computer. You may also print out the PDF to complete.

What are the loan terms?

  • Liberty Bank offers tiny home loans on 5-Year, 7-Year, 10-Year, 15-Year, and 23-Year terms. Certain terms may not be available for all applicants based on credit history, income, down payment, and other criteria. There are no pre-payment penalties with Liberty Bank, meaning you are free to pay off your loan at any time ahead of the designated term.

Could I choose a specific model?

  • Liberty Bank seeks authorized manufactures and builders that build to current code and best practices to meet tiny homes units that marketable, habitable, safety, and durability criteria.

Tiny Home Builders We Work With

Disclosure: Liberty Bank of Utah does not endorse or warrant the products or companies listed on this page and nor does it receive any compensation, monetary or otherwise from these tiny home builders. Liberty Bank does work with customers who purchase homes from these builders and encourages tiny home purchasers to shop around for the builder that is best for them.

Rates based on credit history, collateral criteria, the term of a loan and other criteria. Loans subject to all bank policies and procedures. All loans and lines of credit require a separate application and credit approval. Terms and conditions are subject to change. Other restrictions may apply.