What are my financing options?

Whether you're building an ADU for your family, rental income, or creating extra space, lining up your finances is essential. Chances are you'd fall into one of three categories to finance your ADU.

• HELOC: If you have equity in your house, you'll definitely want to consider getting a Home Equity Line of Credit (HELOC). This kind of loan allows you to borrow against the equity you have in your house.
• Renovation Loan: Homestyle Renovation Loan could cover construction costs by using the future value of the property including the completed ADU.
• Adding a 2nd: A 2nd Position Construction Loan which could cover your building costs. You could then refinance down into a single loan later.

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