Finance Your ADU Easily In California.
California has been working to solve the housing supply crisis by making ADU more feasible to build both from the financial and legislative front. California ADU Financing is not challenging because of the many different financing options and grants available for ADU build-up. Available ADU financing options 1. RenoFi loan: A RenoFi Loan is perfect for financing an ADU. In this loan option, one can borrow all the money they need at the lowest interest rate. This loan option has a fixed interest rate, and there is no need to refinance the first mortgage. A RenoFi loan can increase the borrowing capacity of the homeowner by three times while ensuring the lowest possible interest rate. 2. HELOC: The home equity line of credit allows the borrower to borrow against the equity in their home and provide a revolving line of credit. Here the interest is payable on cash that is withdrawn. The interest rate will be higher than the first mortgage and will also li