How do I pay for the tiny home?
We have 3 Options for payment to help you maximize your ability to get to your dream home!
OPTION ONE: FULL CASH PURCHASE
For this option, all costs are paid directly to MitchCraft Tiny Homes.
Payment Schedule is as follows:
25% of estimated cost due at Contract signing as down payment.
50% of estimated cost due when home construction starts.
Remaining balance (~25%) due after home is completed and prior to delivery.
OPTION TWO: CASH PURCHASE WITH SUPPLEMENTAL FINANCING THROUGH LIGHTSTREAM
You have most of the funds for your build, but need to top off the amount with a loan from Lightstream, which essentially functions like a personal loan.
Obtain your Lightstream Loan and verify with MitchCraft. (no origination fees with Lightstream)
Once the loan is approved, the customer makes their down payment to the financing company. (5% minimum required).
Lightstream pays you directly.
Payment sequence for home then proceeds as if you are a full cash buyer. (see above)
OPTION THREE: CASH DOWN PAYMENTS WITH FINANCING FROM MORTGAGE COMPANY (NEW!)
You have enough cash on hand to pay 25% of the total home value to MitchCraft, and can qualify for a mortgage. The down payment will be a combined amount based on your mortgage down payment (ex. 15% down) and your MitchCraft Deposit (ex. 10% deposit). *Please note that this option cannot be used for Shells.
(financing fees apply)
1. Pre-Qualify for Option Three.
2. Pre-approval letter from Mortgage company. (Must apply 5 months prior to home delivery date.)
3. 25% Down payment will be due to MitchCraft at contract signing.
4. Mortgage payments start on the 1st or 15th of the month depending on home delivery date.