Financing Options from Trusted Nationwide Institutions
While local banks and credit unions offer tailored support for ADU construction in Massachusetts, several national lenders also provide competitive financing options that can be used for ADU projects — especially for homeowners with strong equity or good credit. These lenders often feature online applications, lower fees, and flexible loan programs that can help you get started quickly.
ADU Link doesn’t offer loans or charge fees — we connect you with trusted resources to help you move forward confidently.
✅ Why Consider a National Lender?
- 🧾 Streamlined online application process
- 💰 Low fees and competitive rates
- 🏠 Ideal for equity-based lending or home improvements
- 🔁 May offer refinance or renovation options based on future value
National lenders are a great fit if you:
- Have strong home equity
- Are doing a conversion (garage, basement, in-law suite)
- Prefer fast, digital loan processing
- Don’t qualify for city or state ADU programs
🏆 Recommended National Lenders for ADU Financing
1. Better Mortgage
Best for: Refinance, HELOC alternatives, fast approval
- Offers low-rate cash-out refinance options
- No lender fees or commissions
- Will match competitors’ offers or pay you $100
- Ideal for homeowners using equity to fund their ADU
2. Renofi (Works through partner lenders)
Best for: Renovation-based ADU projects (conversions, additions)
- Offers Fannie Mae Homestyle and FHA 203(k) renovation loans
- Uses after-renovation value, so equity isn’t required
- Can fund garage, basement, or internal ADUs
- Partnered with lenders across the U.S., including MA
3. PenFed Credit Union (Membership open to all U.S. residents)
Best for: Home equity loans and HELOCs with great rates
- Offers fixed-rate home equity loans up to 30 years
- No lender fees
- May consider projected rental income
- Excellent customer support and national coverage
4. SoFi
Best for: Borrowers with strong credit, flexible loan needs
- Offers personal loans (unsecured) and cash-out refinancing
- Member discounts on rates
- Quick approval process
- Ideal for smaller ADU builds or upgrades
5. Rocket Mortgage (by Quicken Loans)
Best for: Refinance or purchase + remodel
- Nation’s largest online mortgage lender
- Offers cash-out refinancing and renovation loans
- Easy online experience and fast approvals
- Backed by strong customer service
🛠️ Project Types These Lenders Support
| ADU Type | Lenders That Fit |
|---|---|
| Basement or garage conversion | Renofi, SoFi, PenFed |
| Detached ADU from scratch | PenFed (equity-based), Rocket (refinance) |
| Modular or prefab ADU builds | Better Mortgage, PenFed |
| In-law suite/internal remodel | Renofi, Better Mortgage, SoFi |
⚠️ Keep in Mind:
- Most national lenders do not offer ground-up construction loans (for new detached ADUs). For those, work with a local bank or credit union.
- You’ll still need permits and zoning approval from your MA municipality.
- Always compare APR, not just interest rates, and ask if they’ll consider future rental income to boost your borrowing power.
💬 Need Help Choosing?
Not sure which lender fits your budget or project? ADU Link can help guide you based on your goals and location.
📧 [email protected] |
📍 Serving all of Massachusetts
ADU Link — Helping You Finance and Build Smarter, From Boston to the Berkshires.