Complete Guide to ADU Financing: How to Fund Construction of your Accessory Dwelling Unit скачать в хорошем качестве

Complete Guide to ADU Financing: How to Fund Construction of your Accessory Dwelling Unit

Have any questions or want to talk about your situation? Let's chat! Schedule a call: https://calendly.com/juleef/let-s-say-hi 📞Text or call 📞: 503-799-3711 To apply: https://rate.com/juleef Lending wherever you want to call “home” 🏠❤️ -- in all 50 states. Before we talk, here are some questions to think about: -What is the current value of your home? -What is the balance on your current mortgage? -What is the current interest rate on your mortgage? -What is your ADU project going to cost? -Do you have any cash you can put toward the project or do you need to finance the entire cost? -What do you anticipate your home will be worth once your ADU is built? -How much mortgage payment can you afford after your ADU is built? In this video: Looking for financing for an ADU? Start here! It’s a long video, but there’s a lot to cover! I’ve condensed decades of experience financing ADUs into a simple framework I’m excited to share with you. I cover all of the financing options available, how each works, pros and cons and some practical advice. Hundreds of my clients have built their ADUs and you can too! FHA loan limit look-up: https://entp.hud.gov/idapp/html/hicos... 00:00 - Intro: ADUs are magic 00:27 - Why build an ADU? 00:55 - Financing: the puzzle 01:50 - Types of ADU financing 02:58 - Category #1: Outside Funds 03:52 - Retirement funds 05:33 - Retirement distributions 06:41 - Outside the box options with retirement funds 07:28 - Don’t forget family & friends 08:09 - Credit cards 10:20 - Category #2: Equity you have 10:50 - Refinancing 11:55 - Why refinancing is good 12:34 - Why refinancing may not be good 13:26 - Reverse mortgages 14:40 - Home Equity Lines of Credit 15:17 - What’s different about a HELOC? 16:38 - Why a HELOC is good 19:15 - Why a HELOC may not be good 21:31 - Home Equity Loans 22:26 - Hybrid HELOC / HELoan 22:55 - What is a blended rate? 24:51 - Category #3: Equity you create 25:29 - Construction loans 26:31 - Lender gettin’ all up in your business 26:57 - Construction loan timing 27:25 - Construction documents 28:32 - Construction loan appraisal process 29:40 - Contractors for construction loans 30:03 - Warning: don’t start work too soon! 30:56 - Construction loan vs refinance 31:57 - What about prefab ADUs 33:24 - Purchase with construction loan 34:35 - Renovation loans 35:05 - FHA 203(k) Renovation Loan 37:28 - Fannie Mae & Freddie Mac renovation loans 38:36 - How do the Fannie & Freddie reno loans work? 40:04 - Contractor review / HUD consultant 40:55 - Renovation loan timelines 41:24 - Payments start right after closing 41:59 - The draw process 42:44 - Interest rates on reno loans 43:09 - Renovation loans are faster to close 43:45 - We need to talk about appraisals! 45:14 - Comps, comps, my kingdom for a comp! #adu #adus #adufinance #adufunding #buildanadu Julee Felsman, NMLS 120831 Guaranteed Rate, Inc.; NMLS 2611 Equal Housing Lender. www.nmlsconsumeraccess.org www.rate.com/licensing www.rate.com/privacy Branch address: 1300 SE Stark St 111, Portland, OR 97214 State Licenses: AK - AK120831, AL - 73482, AR - 117882, AZ - 1002329, CA - CA-DBO120831, CO - 100514850, CT - LO-120831, DC - MLO120831, DE - MLO - 120831, FL - LO66603, GA - 67474, HI - HI-120831, IA - 34589, ID - MLO-2080120831, IL - 031.0056868, IN - 42483, KS - LO.0039957, KY - MC713848, LA - Licensed, MA - MLO120831, MD - 120831, ME - Licensed, MI - 120831, MN - MN-MLO-120831, MO - MO-120831, MS - 120831, MT - 120831, NC - I-187748, ND - NDMLO120831, NE - Licensed, NH - Licensed, NJ - Licensed, NM - Licensed, NV - 65660, NY - Licensed, OH - MLO-OH.120831, OK - MLO21956, OR - Licensed, PA - 74700, RI - Licensed, SC - MLO - 120831, SD - MLO.09183, TN - 203658, TX - Licensed, UT - 12003187, VA - MLO-41738VA, VT - VT120831, WA - MLO-120831, WI - 120831, WV - LO-120831, WY - 8673 Information provided is for educational purposes only. It should not be construed as financial or legal advice or instruction. Guaranteed Rate does not guarantee or assume liability for the accuracy, completeness, or timelines of the information. You should conduct additional research before making any mortgage related decisions. By refinancing, you may pay more in costs and interest over the extended term. Guaranteed Rate, Inc. cannot predict where rates will be in the future.Guaranteed Rate has no affiliation with the US Department of Housing and Urban Development. By refinancing, you may pay more in costs and interest over the extended term.Sample rate provided for illustration purposes only and is not intended to provide mortgage or other financial advice specific to the circumstances of any individual and should not be relied upon in that regard. Guaranteed Rate, Inc. cannot predict where rates will be in the future.