All Forum Posts by: Eileen L.

Thank you for sharing! 

Hello, are there any lenders for ADU financing that you can share? Thank you in advance!

Hello, looking to learn from those that have done a garage conversion recently. I’m located in Southern California and curious to know what is the average cost to do this? Is this usually funded by a home equity loan or something different? I will be reaching out to my city to get more info on permit requirements and will work with a contractor, but wondering right now about funding such a big expense. I have about $150k of equity in one of my investment properties, so that’s the only thing I can think of. This would be a garage conversion on my primary residence. Any advice is appreciated, thank you!

Thank you for your response! I have two co-workers that are looking to do this, so I'll share with them.

Does anyone know if an assumption of loan is common or not usually approved by a lender? Looking for info on assumption of a VA loan, with both members with a VA loan entitlement. Thank you in advance!

Hi @Charles Renn,

Do you have any CPA referrals you can provide me as well? I'm in Ontario, CA.

Thank you!

Eileen

@Andrew Postell thank you for the response! I’ll keep that in mind.

Hello, 

I currently have a 2.875% interest rate on a new rental that I just moved out of as my primary. I'm curious if getting a home equity loan or HELOC would still be possible now that it's a tenant-occupied? I don't want to refinance out of a good interest rate, but have a good amount of equity sitting in property. Any advice? Thank you!

I’m currently in escrow to buy a home I will be living in. The termite inspection came back and there’s termite damage and a presence of the following: 

- Subterranean termites

- Drywood termites

- Dryrot/fungus damage to wood.

i read that if they fumigate the house for termites, it doesn’t mean it’s going to fix the problem and usually requires treatment over months. Is this a big concern I should be worried about if they are willing to fix in escrow?

There’s already a lot of work to house I’ll be doing on my own, so I don’t want any other major problems once I move in. Thank you in advance!

The current lease should work for your lender.  Just ask the seller’s agent to provide a copy of the lease agreements for each tenant. Hope that helps!