ADU Financing in Georgia
Discover financing solutions for your Georgia ADU project right here. Find information on preferred lenders, explore various financing options, and get answers to frequently asked questions. Let us help you make your dream ADU a reality with the right financial support.
A loan based on your home’s after renovation value? Get started to see today’s loan rates. You don’t have to buy new to get a dream home.
Madelyn Schmidt
NMLS: 1530295
267-668-2844
madelyn@renofi.com
renofi.com
Our Process
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Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.
A loan based on your home’s after renovation value? Get started to see today’s loan rates. You don’t have to buy new to get a dream home.
Madelyn Schmidt
NMLS: 1530295
267-668-2844
madelyn@renofi.com
renofi.com
ADU Financing Options
Financing your Accessory Dwelling Unit (ADU) in Georgia is more accessible than expected. If you’re asking yourself how to fund your ADU, here are some accessible options:
Home Equity Line of Credit (HELOC)
A Home Equity Line of Credit (HELOC) allows you to tap into your home’s equity with flexible borrowing terms. You’ll receive a draw period where you can use the funds as needed, followed by a repayment phase. You only pay interest on the amount borrowed, which usually spans up to 10 years, making it a practical choice for funding your ADU.
Cash-Out Refinance
With a cash-out refinance, you replace your current mortgage with a new one that includes extra cash based on your home’s equity. This approach provides you with additional funds that can be used for your ADU, making it a viable option if you have substantial equity and a favorable mortgage rate compared to current market conditions.
Renovation or Construction Loan
For those who prefer not to use home equity, a renovation or construction loan is an excellent alternative. These loans don’t require your home as collateral but might come with stricter credit requirements and higher interest rates, leading to higher monthly payments.
Additional Financing Options
Consider exploring additional options such as personal loans, using retirement savings, selling another property, or seeking support from family and friends. Private money loans are another potential source of funding.
Financing Disclaimer
The information on this webpage is for general purposes only and does not constitute financial advice. We recommend consulting with a financial advisor for personalized guidance. Georgia ADU does not endorse any particular lender, and you are free to choose any lender that suits your needs. The financing options provided are illustrative and may not be current. We do not guarantee the accuracy or completeness of the information and are not liable for any errors. For specific advice, please consult a qualified financial professional.
ADU Financing FAQs
Financing Option
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Financing Option
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Financing Option
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