Crosspost from CalHFA
Author: Renée J. Schomp, Director
Earlier this fall we shared with you about CalHFA’s new ADU grant program which can help eligible homeowners with some of your ADU costs.
Below is an excerpt shared by CalHFA:
The ADU Grant provides up to $40,000 to reimburse pre-development and non-reoccurring closing costs associated with the construction of the ADU. Prevelopment costs include site prep, architectural designs, permits, soil tests, impact fees, property survey, and energy reports.
Check out CalHFA’s ADU webpage for all the details. There are eight ADU-approved lenders who cover all of California and CalHFA will consider opening the program up to additional lenders beginning in late May – we hope Redwood Credit Union will become one of them, given their new ADU loan product – see details below.
For more information about financing your ADU, check out these additional resources:
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Watch our on-demand webinar with Redwood Credit Union on their ADU construction loan product
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Watch our on-demand webinar on How to Finance Your ADU
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Read the Casita Coalition’s in-depth guide on financing your ADU
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Reach out to a finance professional from our Vendor Registry
And don’t forget to sign up for an ADU Feasibility Consult with our nonprofit for help at Step Zero of your ADU thinking process, to make sure you’re set up for success with a realistic understanding of likely budget and cost drivers from the get-go!
