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Updated over 3 years ago,
Acquistion/Rehab/ADU construction to Perm Loan Debt Product?
I'm seeking a loan that will allow me to aquire a property, do some light rehab to the existing single family home and also provide sufficient funds for the construction of an ADU in the back yard. Ideally, once the rehab and construction is complete, it automatically converts to a perm loan (thereby avoid the need to refinance the property). Does such a product exist? If so, could someone point me to a lender that might be able to help? I'm in the San Diego area.
Thanks,
Jimmy