Financing ADUs |
|
ADU FinancingWe offer a full portfolio of financing solutions to homeowners specifically for renovations. From remodels, room additions, new construction including ADUs.
|
|
Which is the Best Loan for you?
The good news is most homeowners have multiple solutions. Navigating the best solution depends on a multitude of factors: equity, credit, cash flow, available funds, and more. Our consultation will help navigate financing solutions that best meet the needs of each borrower.
Refinance - Cash out
|
A Cash-out Refinance loan will utilize your home equity to create a construction budget. The loan will release between 80- 95% of your equity. This usually offers the lowest overall financing with a low interest rate compared to other loans.
|
Renovation Loans - HUD, Fannie Mae, VA
|
Renovation loans are available from HUD, Fannie Mae & VA. for property purchase or refinance. These loans allow inclusion of a construction budget to your home loan. These loans offer low financing & low-down payment. One of the biggest advantages is that it creates a larger construction budget based on the future property value.
|
HELOC - Home Equity Line-of-Credit
|
Withdraw funds leveraged off your home equity. Works similar to a line-of-credit. Only pay interest when funds are drawn. Withdrawn Funds are charged at a revolving interest rate. Works well when your payback is short-term.
|
Construction Loans
|
A financing solution for new construction. Construction costs are paid in completed phases. Two options exist: Construction to Permanent or Construction Only. One of the benefits is these loans offer Interest-only during the time of construction. The monthly payments will increase in line with the progress of the construction. |
Reverse Mortgage
|
Reverse Mortgage or Home Equity Conversion Mortgage (HECM) are government insured loans that provide monthly payout of one-time cash-out lump sum payout based on the home equity. This could be used for home renovations or to build an ADU.
Borrower must be sixty-two or over to qualify. You can still live in the residence without any monthly mortgage payments. You could use the one-time cash payout to build an ADU. You now have additional monthly income to enjoy in your retirement. |
Jumbo Loans
|
We offer cash-out refinance loans where the balance of the loan exceeds current conventional loan limits. In 2022, the San Diego County loan limit is $879,750. We can offer loans that over these limits
|
Custom
|
Let our expertise and resources analyze financing solutions for your specific requirements.
|
