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Updated 7 months ago on . Most recent reply
Loan for House and ADU
I am new to the real estate investing world. I have a question about loans and how that works. Can you receive a loan for a single family home and a loan for the construction of an ADU at the same time? I am thinking of house hacking through the use of an ADU since I live in a more expensive area than most. If anyone has any advice on this process or obtaining loans for this type of investment that would be very helpful. Thank you!
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#2 Tax, SDIRAs & Cost Segregation Contributor
- CPA, CFP®, PFS
- Florida
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#2 Tax, SDIRAs & Cost Segregation Contributor
- CPA, CFP®, PFS
- Florida
@Mason Field Yes, you can finance a single-family home and an ADU simultaneously. Options include:
- Renovation Loan (FHA 203(k) or Fannie Mae HomeStyle) to cover both home purchase and ADU construction.
- HELOC or Cash-Out Refinance if you have equity in your home.
- Construction Loan specifically for building the ADU.
This post does not create a CPA-Client relationship. The information contained in this post is not to be relied upon. Readers should seek professional advice.
- Ashish Acharya
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