All Forum Posts by: Paul Dario Jr

Thanks @Matthew Crivelli and @Michael Zeng

Hey all. I've secured a HELOC in order to finance my backyard ADU build. Already have plans drawn and getting ready to submit for permitting. But I'm getting a bit of cold feet regarding the HELOC. Assuming I draw $100k from the HELOC, is it ever likely that the bank/credit union would call on that HELOC to be paid in full after I've drawn off of it? The only thing that's of lingering concern is whether or not the credit union can call on full payment of the HELOC balance after I've drawn on it. Is that a possibility? Wasn't sure if that's a practice of lending institutions. Thanks for the input.

Thanks for the input @Rick Albert

Thanks @Robert Reynolds.

Hey all. I'm planning to build a detached ADU on my primary residence lot as a way to begin my REI goals.

I know that California, under Title 24, now requires any newly built, detached ADU's to include solar panels. What I'm unclear about is whether or not the ADU would be exempt from that requirement if the primary house on the same lot already has solar panels installed on it. Does anyone know if that exempts the solar on the detached ADU I'm building? I read a couple articles that seemed like it was suggesting solar might be exempt from the detached ADU in that case.

Thanks for the feedback!

Thanks for posting this David. Is solar still required for new build detached ADU's? I thought I read somewhere recently that it is not required. I'm in the San Fernando Valley and making plans to build an ADU in my backyard.

@Priya Srinivasan I'm using Bethpage Federal Credit Union

No particular reason that I would close the line early. I was just curious if other banks had that kind of clause and whether they normally exercised that policy if someone closes their line early.

Hi @Erik Estrada. It’s for a potential long term buy and hold rental property. 

I'm nearing a close on a HELOC. The CU says in their documentation that they have the discretion to charge me closing costs if I terminate the LOC before 36 months has passed. Is that a common stipulation by lenders offering HELOC's? Thanks.