The Cottages On Vaughan, partnered  with Citizen Trust Bank and financed the infrastructure of their development and just pre qualified 10 potential buyers of the tiny homes. The Cottages On Vaughan is a tiny home development of 8 homes in a pocket neighborhood in Clarkston, Georgia.

The Citizens Trust Bank-MicroLife Institute partnership brings together a like-missioned focus on building wealth through home ownership. In support of the minimalist lifestyle, MicroLife Institute is the parent company of the Tiny House Atlanta Project. We are proud to partner and bring home ownership in a creative and socially conscious way.

The Cottages On Vaughan

Program Guidelines And Requirements

Minimum 680 credit score

  • 90% loan to value
  • 6-9 month construction term
  • Current perm take out rate is around 4% but can change based on borrower scenario. Locks can be good for 180 days, 270 days and up to 365 days, as needed
  • Owner occupied or second home only allowed
  • Income must be documented with 2017 & 2018 W’2’s and tax returns along with 30 days’ supply of paystubs

(Employment verification must cover the last 2 yrs.- Full time students during any of this period can be acceptable)

  • Assets-  Last 2 months bank statements to document cash needed for closing. ( checking, savings, and 401K withdrawal documentation )
  • There may be no history of any 30-day late mortgage or rental payments within the last 12 months

The below items are needed to complete the credit and income preapproval:

  • 2 year W’2’s & Tax returns
  • 2 months of bank statements( checking & savings)
  • 30 day supply of paystubs
  • authorization to pull credit here  Home buyers Worksheet 


When reviewing the cost worksheet, you will notice the 10% down payment and all fees are rolled into the total acquisition cost.  As this is a preliminary estimate, we estimated the total cost to be higher to make sure we can evaluate at worst case scenario for the borrower until we confirm all fees.