Using Credit Cards and Personal Loans to Build ADUs? BAD idea!

Multiple clients are coming to me AFTER building their ADU to consolidate the mountain of debt they accumulated while building it. Clients have 5-10 credit cards, personal loans and even solar loans at rates as high as 35%!

I'm not even sure it's legal to use multiple solar loans to build ADUs!

But with that much debt, they aren't qualifying for HELOCs are refinances to pay it off. And they're drowning in monthly payments! Their only choice is to sell the house. That's why your FIRST step in building an ADU is to get preapproved for financing - even if you don't do the loan immediately. Preapproval tells you how much can you qualify for? And that determines you construction budget.

You can book a call or Zoom to talk through your numbers at ADUloans.net! #ADU #aduloan #constructionloans #renovation