Texas Lone Star Lending Video
Add a Guest House to Your Home Purchase Loan
In this week's 5-Point-5, we'll learn how to make your home purchase pay for itself by adding a guest house. Use a renovation loan to build an ADU, also called a guest house, granny flat, and many other names, as part of your home purchase.
Trouble viewing the video? Watch it on YouTube.
Read the transcript
In this week's 5-Point-5, we'll learn how to make your home purchase pay for itself by adding a guest house.
1st point: Use a renovation loan - Use a renovation loan to build an ADU, also called a guest house, granny flat, and many other names, as part of your home purchase. You'll have one loan, one payment.
2nd point: What's an ADU? - An Accessory Dwelling Unit is a separate living space that may or may not be attached to your main home. To qualify for financing, it must have a kitchen, bathroom, and living space and have it's own private entrance.
3rd point: Use rental income to qualify - We can use the potential rental income from the ADU to help you qualify for your loan.
4th point: It's a conventional loan - Renovation loans are conventional mortgages and have attractive rates with no scary loan terms.
Last point: Let your home pay for iteself - How cool would it be if the rental income from your ADU made your mortgage payment each month?