All Forum Posts by: Salla Sandeep

Hi Everyone, I have a house in Charlotte, NC, which I turned into an airbnb. I built an ADU in the backyard with savings and a personal loan. I am currently renting on airbnb. I got an interest rate of 3% on the main house and don't want to re-finance the entire property since i will not get the same rate again. Please suggest a way to get back the money i spent on ADU construction. Some suggested getting a HE loan(secondary loan with fixed interest rate) but I'm interested in exploring options.

Try to get FHA 203K loan in which you can add rehab costs as well. check with your lender if they originate these loans. the closing costs will be more than the regualr conventioanl loan but you dont have to comeup with the renovation costs.