Financing Your Ecco
Financing your Ecco can be a smart investment.
Explore the options below to find the best fit for your project.
Explore the options below to find the best fit for your project.
HELOC
Unlock your home's equity!
A Home Equity Line of Credit (HELOC) allows you to borrow against the equity in your home. This flexible financial option provides you with a line of credit that you can draw from as needed, making it ideal for funding your ADU project while only paying interest on the amount you use.
Cash-Out Refinance
Immediate access to funds.
Depending on current interest rates, a Cash-out Refinance can provide you with the cash you need to cover the costs of the ADU while potentially lowering your overall monthly payments.
Construction Loan
Tailored for your building needs.
Construction loans are short-term, high-interest loans specifically designed for funding the construction of a new home or renovation project. These loans cover the costs of building your ADU and convert into a traditional mortgage once the project is complete.
Cash, Retirement Account
Tap into your savings.
Using cash or funds from your retirement account can be a straightforward way to finance your ADU. While withdrawing from your retirement may come with penalties, this option can provide immediate access to necessary funds without the burden of monthly payments.
Private Money Loan
Flexible terms for your project.
Private money loans come from individual investors or companies rather than traditional banks. These loans often offer more flexible terms, faster approval, and less stringent credit requirements.
Family or Friends
Invest in your future together.
Consider reaching out to family or friends who may be willing to lend you money for your ADU project. This option can come with lower interest rates or flexible repayment terms, but it’s important to communicate openly and set clear expectations to maintain healthy relationships.
Need Help Financing Your Ecco?
Contact us today and will connect you with one of our lending partners.
