Financing for your custom ADU

At Suncoast Dwelling LLC, we prioritize making ADU ownership as simple and seamless as possible. That’s why we’ve teamed up with one of Tampa Bay's leading lenders, Lincoln Lending Group. Serving the area since 2003, Lincoln Lending Group is committed to helping you achieve your ADU ownership goals. From start to finish, we’ll be here to guide you every step of the way. Click the link below to begin your application.

01

Improve Now, Pay Later

How it works:


This program allows homeowners to upgrade their property before selling or while staying in it—without upfront costs. Funding is based on your home’s equity, and repayment is made after the home is sold or over time, depending on your goals.


Pros:


  • No upfront out-of-pocket costs
  • No monthly payments required for pre-sale projects
  • Increase your home’s value before going to market
  • Streamlined approval process with fast pre-qualification
  • Funds are used directly for construction and improvements


Why this is different:

  • Unlike HELOCs or cash-out refinancing, this program is designed specifically for home improvement and value creation, not just borrowing money. It allows you to unlock your equity strategically to get a higher return on your property.

02

Cash-Out Refinance

How it works:



This involves refinancing your mortgage for more than you currently owe, then taking the difference in cash. You can use this cash to finance the construction of your ADU


Pros:

  • You can access a large amount of money with potentially lower interest rates than other loans


  • The loan is secured by your property, which can result in better terms


Cons:

  • Increases the size of your mortgage


  • Your property is again at risk if you can’t repay the loan

03

Personal Loan

How it works:


You take out an unsecured loan from a bank, credit union, or online lender. This option doesn’t require home equity


Pros:

  • No need to use your home as collateral


  • Fast approval and funding
  • Good option for those with good credit but little home equity



Cons:

  • Higher interest rates compared to home equity loans or HELOCs


  • Loan amounts may be smaller, which might not cover the full cost of the ADU

04

FHA 203(k) Loan (Renovation Loan)

How it works:



This government-backed loan allows you to finance both the purchase of a property and the cost of renovations, including ADUs. It can be used for existing properties or newly purchased ones.


Pros:

  • Low down payment requirement (as low as 3.5%)


  • Can cover both construction costs and home purchase costs


Cons:

  • A more complicated application process


  • Limited to certain types of properties and may not be available in all locations