Yes — Housei offers financing services for the best rates and service. Depending on your situation, we can help you tap into your home equity (through a HELOC or Cash-out Refi), or obtain a traditional loan (construction loan, renovation loan), along with other options. Learn more about HOUSEI financing options here. Or just reach out and we’ll point you in the right direction

No, when you complete the prequalification form, lenders perform a “soft” credit inquiry. This allows you to compare lender offerings without affecting your credit score.

You can usually expect to receive your money in as little as 1-5 business days.

In most states, the minimum loan amount is $1,000, but we recommend requesting at least $2,000, as several of HOUSEI’s lenders only make loans of $2,000 or greater.

Yes, you can financing the total cost for the end to end project, not just our prefab home, you can including shipping, construction service, permitting, swimming pool installation fee etc all together, And apply for one financing amount to cover all the costs associated with your HOUSEI home as long not exceeding $250000.

Yes, of course! HOUSEI’s offers page will display a range of loan options, so you can choose to finance a lesser amount, the exact amount, or a higher amount so you can get the project and payments that best suit you.

Yes, if you did not see offers, you can fill out the pre-qualification form again and add a co-borrower. Adding a co-borrower may help you qualify for a loan or qualify for lower interest rates.

Yes — Housei can help you can get a loan to build an Housei. There are multiple ways you can finance an Housei, including cash-out refinancing, a Home Equity Loan, a HELOC (home equity line of credit), a construction loan, and more. Housei Finance and its in-house lending consultants act as a broker, hunting for the best loan offering that fits your needs and unique situation.

Housei is a financing Brokerage with an in-house financing Broker. We maintain a wide range of lender relationships to find the most attractive loan terms possible to finance your HOUSEI ADU. Our Broker will first have a conversation with you to understand your goals and preferred methods of financing. After your informational call, we’ll leverage our lender network to find the most attractive option for you. To book a call with an HOUSEI Financing Broker, click here!

Nope! You can keep your existing low rate primary mortgage and finance your Housei separately with a second =loan. In fact, at Housei, we have a network of lenders that provide below market rates on second mortgages or loan starting at an introductory rate of 3.99% APR.

The three most common ways our customers are financing their Housei is with a home equity line of credit (HELOC) starting with an introductory rate of 3.99% APR and fixed rate 15-year second mortgage starting at 6.75% APR. Or our in-house financing

HOUSEI we are aim to help people with affordable housing. our CEO see the struggles of American people: 78% American household spending more than 50% of their gross monthly income on rental or mortgage. which means 22.4 million household are spending more than 50% more than their gross income for housing. In order to contribute to affordable home, HOUSEI offers in-house payment plan for customers who could not afford or come up with full cash payment and want to lower their monthly payment compare to traditional home.  HOUSEI provide flexible payment program.  payment term from 2-5 years. the reason we try to keep term short. so that the home can be paid down quickly and faster and homeowner can finally become mortgage free life and lower the risk with lose their home. 

Currently, the CalHFA ADU grant is on hold. Once the state legislature decides how to allocate the funds, our in-house Mortgage Broker can assist you with applying and getting approved for the grant so you can use it to purchase your Housei with us.

We work with lenders who consider the after-renovation value of your home with the Housei along with 75% of the expected rental income (only if you plan on renting it out) on a home equity line of credit.

At Housei, we work with lenders that are able to qualify you based on profit and loss statements and bank statements instead of traditional income documents like paystubs, W2s and tax returns.

Home equity loans are built around the the amount of ownership you have in your home. You have home equity when your home’s value (check Zillow) is greater than the amount you owe.

There are multiple ways you can get home equity. First, when you buy a home, you pay a down payment. This initial down payment is the amount you have in home equity. Typically it’s around 5-20%.

Another way to gain home equity is through home appreciation. Given that your home increases in value, which is called appreciation, you will own that amount as your home equity.

Home equity increases or decreases based on market demand. If you live in an area where supply is low but demand is high, you’ll likely find your home equity increasing. Appreciation is like a savings account with untapped cash storing up automatically. You unlock that cash through a lender that will help you take out that value in exchange for debt. In exchange for taking that cash out, you take on more debt than you had before. In other words, you trade debt to get cash.

If your home equity is 25% more than the cost of the Housei (eg if the ADU is $100k, you should have at least $125k in equity).
If you have good credit. This will get the lowest interest rates.
If your current interest rate is high and the market interest rate is lower.
If you want to shop a wide variety of lenders (they are everywhere).

If you don’t have enough home equity or you are saving your home equity for another life need.
If you recently did a cash-out refinance and don’t have enough home equity.
If the market interest rate is higher than what you are paying and you don’t want a higher rate. If interest rates increases (like what is happening in 2022), you could be paying a higher rate.

If you are needing to get the funds ASAP, HELOCs are typically quicker to close.
If you want to keep your current mortgage and not refinance it.

If you might worry about variable interest rates taking you higher than you could pay.
Monthly payments will increase if interest rates rise.
If you don’t have enough equity built up in your home to cover the high costs of construction.

If you don’t want to pay monthly payments.
If your ADU costs too much for a conventional loan.
If you can’t get qualified from a lender because of credit, income, or home equity.

If your Housei costs more than half of your home.
If you need all the future appreciation that your home will generate.
If you want to pay less than the total interest of what you would pay on a traditional loan.

You might find that contractors or homebuilders are shy about giving you a price. They often will list their “base price” which doesn’t include site costs, permitting, scope buffers, and upgrades. Modular and prefab homebuilders have the ability to give you a more precise cost but they cannot give you shipping or site costs until a site analysis is completed. This analysis is step 1 for almost every homebuilder. You most likely will need some savings to cover this cost. Note that you will want some savings to also cover design. Homebuilders that have designs can include those in their prices. But if you want something custom that fits your backyard, you’ll want to hire a designer or architect.

If you live in California, you can take advantage of a new $40,000 CalHFA grant to homeowners building an Housei.

Before you get quotes from a lender for financing, start by getting an “all-in” estimate of how much your ADU will cost. This can be provided by your contractor or homebuilder and should include design, engineering, site work, labor, materials, permits, and more. Take that all-in number to multiple lenders and shop around for the best rates.

Alternatively, you could get a financing quote for the max amount. Then you could shop different homebuilders to fall within that budget.

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 How to find lenders to finance an ADU

• Local banks and credit unions
• Mortgage broker
• Online lender

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A great place to start is with your local bank or credit union. They have incentive to support the local community and finance local projects. If they don’t have the right options, know that you always have other options. Financing is an incredibly large part of the economy with many lenders and brokers.

If you have any questions or if we can help at all, reach out and let us know how we can help!