Valor Lending can finance your Best ADU California Construction Loans with ease. If you currently live on a SFR or PUD and you’re thinking about adding a ADU to your property, Valor Lending can facilitate your financing. See below for a few key points
Call Adam French today to discuss your options 702-596-5639
- Rates starting in the 5’s for the ADU loan program
- 9-to-24-month terms available depending on the construction budget
- Minium middle credit score has to be 700 or higher
- Must have SFR or PUD primary residence on the property
- No investment properties with the intent to add a ADU available at this time
- No experience necessary
- Loans up to 3.5M
- Lien Draw up to 100% of the outstanding lien balance with no additional cash to the borrower
- Up to Max 80% LTC and LTC
Highlights of adding ADU to property
- Based on lower of the LTV or LTC
- Consideration of extensions will be subject to additional review
- Eligible Property Types: Single Family Residence PUD General Notes
- Permits are a requirement prior to closing
- Borrower to pay monthly interest only payments
- An experienced general contractor is required and must be commensurate with the proposed project
- Minimum FICO Requirement: 700
- Maximum Debt to Income: 50% DTI calculated using a qualification rate based on current rates. If you are over 43% DTI then the lender will require three months of PITIA
- A full appraisal (1004/70)
- Lien Draw up to 100% of the outstanding lien balance with no additional cash to the borrower
Call Adam today at 702-596-5639 or email Afrench@valorlending.com
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