If you’re a homeowner residing in the City of San Diego and looking to build an ADU on your property while searching for ways to finance your project, the new SDHC ADU Finance Program is for you!
Before going into full detail about the program, we need to know who SDHC is and what they do!
The San Diego Housing Commission promotes social and economic stability for vulnerable populations in the City of San Diego through many initiatives, including affordable housing, opportunities for financial self-reliance, and solutions to address homelessness. With a commitment to enhancing the well-being of residents, SDHC plays a vital role in shaping the housing landscape and improving the lives of individuals and families in the community.
If you’re a homeowner, you may have noticed the current popularity of ADUs nationwide. Not only do they provide extra living space for your family, but they also have the potential to generate additional income through rentals!
However, constructing one of these units can be more challenging than it appears. The process involves permits, design, construction logistics, and even legal obligations, which can be overwhelming as to where to begin if you take on the project yourself.
And that is why the SDHC came up with the ADU Finance Program! This initiative was created to assist homeowners looking to generate a second source of income in building an Accessory Dwelling Unit in their properties through construction loans of up to $250,000! Furthermore, the program contributes to making housing in the City of San Diego more affordable as the rents for the ADUs constructed with the program’s assistance must stay affordable for seven years.
Now, you may be wondering: How do I qualify? Let’s jump right onto what you need and how you can apply.
We’ve got you covered with all the information you need to determine if you’re eligible to start your exciting ADU journey. We’ll explore the key criteria to qualify, from income thresholds to property ownership specifics!
At Multitaskr, we provide comprehensive support for our ADU project. We have you covered from the initial stages of determining zoning feasibility to securing financing and creating permit drawings. Once your project is underway, we handle all aspects of construction to ensure that everything is completed to your satisfaction. Our goal is to make the process as seamless and stress-free as possible so that you can enjoy the benefits of your new ADU without any hassle.
And there you have it! If you’re a homeowner in the City of San Diego, the SDHC ADU Finance Program presents a golden opportunity to turn your ADU vision into reality. This visionary initiative, facilitated by SDHC, empowers homeowners like you to confidently embark on your ADU project, offering comprehensive financial support and guidelines.
Don’t miss out on this remarkable opportunity, and take the first step toward your project today. Visit our application page here to explore how Multitaskr and the SDHC ADU Finance Program can bring your ADU dreams to life!
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