Separate loan for home build and ADU?

[K S.]

Basically, I'm building a triplex and two ADUs on the same lot at the same time under the same architect and construction crew but I wanted to get a separate construction loan for the ADUs. The advantage is that I can pay off one of the mortgages faster which will greatly reduce the monthly payments as opposed to a single mortgage where charging half of it off wouldn't change my monthly rate. I would have to refinance in that case. 

[Chris Seveney]

Quote from @K S.:

Basically, I'm building a triplex and two ADUs on the same lot at the same time under the same architect and construction crew but I wanted to get a separate construction loan for the ADUs. The advantage is that I can pay off one of the mortgages faster which will greatly reduce the monthly payments as opposed to a single mortgage where charging half of it off wouldn't change my monthly rate. I would have to refinance in that case. 

If you are saying you want to get 1st and a 2nd mortgage and have one of them for the ADU's that is going to be extremely challenging since they are all on same property. A conventional lender probably will not touch that deal. you could look to hard money / private lender but realize that you are going to pay a very high rate.

You are probably stuck with option #2 that you noted

[Ryan Davies]

Some of these deals its better off using other real estate that you own to fund them. Conventional lenders get more pick with these type of things. 

[K S.]

Thanks, I don't mind putting the entire thing under a single mortgage but maybe I can finance the second half with a cash out from another property if I have to. I'll talk to a lender but that sounds complicated to pay cash for two of the 5 units. I would be more involved instead of the bank.