New changes with ADU ordinances increases the opportunity for homeowners to add an ADU/Granny Flat. This is a unique opportunity to create affordable housing for a loved one or start your realty income stream.
Most homeowners will qualify to finance an ADU. Several financing options are available. One popular option is refinancing your current loan and pulling out equity to finance your ADU. ADU budgets can start out at $80,000 but most will range in $200,000 to $300,000.
Not all homeowners will have sufficient equity for an ADU, then you can consider renovation loans from HUD & Fannie Mae. The key advantage is these loans are based on the future value of the property. Anytime a renovation adds square footage, it's highly valued and appraised.
Other loans are also available that can be considered: constructions loans, jumbo loans & hard money loans.
Which is the best loan for you?
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Let us help you navigate your financing options. Let's get started - So invest a moment to explore your financing options. Complete the Financing Inquiry Form below. It's not a loan application. No FICO score. We'll review and schedule a phone call to narrow your choices and determine your next steps.
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