California homeowners, have we got exciting news for you! The state’s Housing Finance Agency has recently launched a grant program that offers up to $40,000 towards the costs associated with your ADU. And the great thing about this is that this isn’t a loan – when you apply to CalHFA for the program, you don’t need to be concerned about interest payments or any other bills. As long as you meet certain income requirements that vary from county to county, then you should be in good shape to receive this wonderful grant. Don’t miss out on this amazing opportunity; get started today and start planning your ADU construction sooner than ever!‍

As a homeowner looking to construct or renovate an ADU, the CalHFA Grant Program could be a great help. To qualify however, you first need to make sure that you have a construction or renovation-type loan from one of CalFHA’s list of pre-approved lenders. This loan must have managed escrow too, meaning that only after completion of each phase in the ADU project, will funds be released. Not only do you not have to worry about it – your lender will also be with you every step of the way in helping you through this process. Finally, if accepted for this grant, CalFHA will add additional funds to the already existing amount from your loan, to the amount of $40,000.

A CalHFA ADU grant is a great way to get the money needed to bring your ADU vision to life. There are two important requirements that need to be met if you wish to apply for this grant: living in and owning the property where the ADU will be built, as well as meeting certain low-to-moderate-income limits.Though it is important to remember that lenders might also have some additional requirements that must be met depending on the type of loan and specific lender.

The grant will be covering all pre-development costs such as site preparation, architectural designs, permits, soil tests, impact fees, property survey, and energy reports. If your pre-development costs are lower than $40,000 the excess can go to non – recurring closing costs.

The best way to get started is to get in contact with a CalHFA lender. The lender will let you know whether you are eligible for the grant and guide you step by step through the whole process.They will also show you which construction and renovation type loans you are eligible for. In order to apply for the grant you will need to prepare your plans for the ADU such as structural drawings, structural plans, etc.

For additional information you can check out these amazing resources to get your ADU grant https://www.casitacoalition.org/ https://www.hppcares.org/ https://crosscountrymortgage.com/ https://www.aduloans.net/