WHAT ARE ADU FINANCING OPTIONS?
Once you’ve learned about Accessory Dwelling Units and expected ADU costs, you’re ready to tackle a crucial step: deciding how to build and finance a granny flat. Whether you’re building an ADU for family, securing rental income or creating extra space, making the financing for an ADU work is essential.
Many folks are currently sitting on low interest rates for their primary home, meaning a refinance is not appealing. In those situations, a “Fixed Rate Second Position Loan” might be a good option.
Read on for more on various lending options, plus other paths for ADU financing in California. We’re happy to work with you and your lender to ensure you have the plans, scope of work, and budget required to submit for loan documentation on construction loans.