We can help you get started on financing your new tiny home right now! Look through this page to find out what information you will need, what type of programs are available, and get answers to the most frequently asked questions.
Are you ready to start your application now? Click the ‘Start My Application Process’ button to begin.
When you’re ready to start your application, you’ll need to gather this information:
- Social Security number (primary residence) or Tax ID number (business/investment)
- Estimated purchase price
- Initial investment (down payment, land equity, or trade value)
- Proposed home site (zip code, land or site rent payment)
- Name of Retailer (Compact Cottages)
Our preferred lending partner, 21st Mortgage Corporation, is a full-service lender specializing in park model and other manufactured home loans. They underwrite, originate, and service their loans. This means there are no hassles and minimal wait times. They provide competitive rates for affordable housing, whether you’re buying for the first time or looking for a better refinancing package.
21st Mortgage loan programs include:
- Fixed rates
- No prepayment penalties
- No land required
- Financing for homes located within a Park or Community
- Permanent or non-permanent foundations
- Primary, Secondary, Investment, and “Buy-For” (purchase for someone else)
- Closing costs and most third party fees may be financed
21st Mortgage loan guidelines are as follows:
- Loans are not available in the following states: AK, HI, MA, NJ, and RI.
- Minimum loan amount is $13,500 when purchasing from a retailer.
- Down payment can be as little as 0% of the purchase price on primary residences. Buy-for and investment properties require a minimum of 20% down. Down payment may be in the form of cash, trade, or land equity.
How does the process work?
The ‘Start Application Process’ button will take you to the log in page. If you have not registered with 21st Mortgage before, you will need to create an account to fill out an application. Once you have completed your application, a 21st Mortgage Loan Originator will contact you with a decision on your application.
Can I save my application and finish it at a later time?
Yes! You can do so by selecting the ‘Save & Continue Later’ button that is located throughout the application. You may resume completing your application by logging into your account and click the ‘Continue An Application’ button. The information will be saved for 60 days during which you can complete your application.
How does 21st Mortgage protect my personal information?
21st Mortgage takes stringent measures to protect your personal information because privacy is a concern for all consumers. Once you complete your application it is encrypted for transmission and then kept secure with industry-leading security servers.
*This information is presented as of 2/6/2020 by 21st Mortgage. Rates and credit guidelines are subject to change without notice. We recommend visiting the 21st Mortgage website for current information.