Anyone here build a backyard adu and financed it? We need to build for in laws and I’m trying to research financing options. Cash out refi not a great option, neither is heloc.

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SBLOC maybe? If you have enough in a brokerage account. Otherwise you might be stuck with a personal loan, and interest rates (not to mention max loan sizes) aren't that attractive for a somewhat substantial construction project.

The good news is that if cash out refi or HELOC is off the table because of LTV, you could treat other financing as interim then do the cash out refi, and the new construction should count towards the overall value of the property and make it more viable.

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Im trying to find some construction loans available. But it looks like I’ll probably have to do heloc and then refi once built or pay it off quickly. Thanks!

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Talk to a broker that specializes in it, most big banks don’t. We are rebuilding soon. The first part pays off your current mortgage then the second part pays off your contractor, then it rolls into a new mortgage of your choosing

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Top prefab ADUs have financing partnerships.

Construction loan could be one way of doing it.

Bay Area?

Seattle

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