Updated about 3 years ago on . Most recent reply
Financing Options for an ADU
Hi Everyone, I have a house in Charlotte, NC, which I turned into an airbnb. I built an ADU in the backyard with savings and a personal loan. I am currently renting on airbnb. I got an interest rate of 3% on the main house and don't want to re-finance the entire property since i will not get the same rate again. Please suggest a way to get back the money i spent on ADU construction. Some suggested getting a HE loan(secondary loan with fixed interest rate) but I'm interested in exploring options.
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I believe the HELOC loan is going to be your best option. Unless there is another loan product I think this would be the most streamlined and easiest for you.