LightStream personal loan

If you want to finance a tiny home with a personal loan, you will likely need very good to excellent credit (at least 670 or higher) to get the best rates. If you can pay for most of the house with savings, you could use a personal loan to finance the rest. Some lenders, such as LightStream, offer personal loans designed for purchasing a tiny home for up to $100,000. If you want their lowest annual percentage rate (APR) of 5.73%, you will need excellent credit. The repayment period is shorter than a typical mortgage – only seven years. Depending on the lender, personal loans may come with additional fees, which could increase the total cost to borrow and impact your monthly payment. Generally, your debt-to-income (DTI) ratio should be at or below 35%.