Anchored Tiny Homes of Grand Rapids & Northern Michigan financing options.
Anchored Tiny Homes of Grand Rapids & Northern Michigan offers a variety of franchising options.

Financing Options

There are more options than you may think!

As you get closer to deciding whether or not you would like to build an ADU on your property, one of the biggest questions that many homeowners have is “can I finance this? And if so, what are the options?” This is exactly where we can help!

Here are each of the main options available to you, but if you would like to quickly see what would be the best fit for you and get an idea of payments and terms, reach out today and our financing team can walk you through options.

Home Equity Line of Credit (HELOC)

In the current economic climate, a Home Equity Line Of Credit (HELOC) is the most common financing option that our current customers are using. This is a line of credit taken out based on the equity you have and broken into two pay periods, a draw period, and a payback period, and you are only charged interest on the amount of the loan that you use which you can draw from to pay for your project during a specific period, typically around 10 years.

The payments on this type of loan still come in far lower than what you can often rent it out for or the cost of housing an aging parent in an apartment or assisted living facility making this an incredibly affordable option!

The Anchored ADU Bridge Loan

We’ve developed a loan specifically for those that just don’t quite have enough equity in their home without the new value of the ADU being put on.

With this option, you can have the money for your ADU lent to you upfront and once the unit is built you then pay off this loan using either a cash-out refinance or HELOC based on the NEW value of your property! And to make it even better, once you get the loan rates are locked in so it won’t change on you and there are no payments during the duration of the loan!

Cash-Out Refinance

A cash-out refinance is very similar to a HELOC in that it is based on your current equity, but rather than being secondary to your mortgage, a cash-out refinancing replaces your current mortgage and you can use the difference that goes to you in cash as a way to pay for your ADU.

This is a great option if you have a lot of equity in your home and if your current interest rate is similar to or higher than the current going rate!

Renovation or Construction Loan

Unlike loans based on existing equity, a renovation/construction loan does not use your home as collateral so if you are wanting to avoid that or don’t have much equity then this may be a great option.

However, this does often have more strict credit and income requirements as well as a higher interest rate typically, making the monthly payment often higher than with other options.

Alternative Options

Beyond these traditional loans there are still a few other options that you can look into, including:

  • A personal loan or line of credit
  • Use of retirement accounts or personal investment
  • Sale of another home or property
  • Borrowing from family and friends
  • Private money loans
  • And more

Ultimately there are most likely many more options than you would realize as well as dozens of different lenders with different terms to help you get approved for the payments that work best for you and your goals!

Anchored Tiny Homes of Grand Rapids & Northern Michigan offers a variety of franchising options.

Financing Options

There are more options than you may think!

As you get closer to deciding whether or not you would like to build an ADU on your property, one of the biggest questions that many homeowners have is “can I finance this? And if so, what are the options?” This is exactly where we can help!

Here are each of the main options available to you, but if you would like to quickly see what would be the best fit for you and get an idea of payments and terms, reach out today and our financing team can walk you through options.

Home Equity Line of Credit (HELOC)

In the current economic climate, a Home Equity Line Of Credit (HELOC) is the most common financing option that our current customers are using. This is a line of credit taken out based on the equity you have and broken into two pay periods, a draw period, and a payback period, and you are only charged interest on the amount of the loan that you use which you can draw from to pay for your project during a specific period, typically around 10 years.

The payments on this type of loan still come in far lower than what you can often rent it out for or the cost of housing an aging parent in an apartment or assisted living facility making this an incredibly affordable option!

The Anchored ADU Bridge Loan

We’ve developed a loan specifically for those that just don’t quite have enough equity in their home without the new value of the ADU being put on.

With this option, you can have the money for your ADU lent to you upfront and once the unit is built you then pay off this loan using either a cash-out refinance or HELOC based on the NEW value of your property! And to make it even better, once you get the loan rates are locked in so it won’t change on you and there are no payments during the duration of the loan!

Cash-Out Refinance

A cash-out refinance is very similar to a HELOC in that it is based on your current equity, but rather than being secondary to your mortgage, a cash-out refinancing replaces your current mortgage and you can use the difference that goes to you in cash as a way to pay for your ADU.

This is a great option if you have a lot of equity in your home and if your current interest rate is similar to or higher than the current going rate!

Renovation or Construction Loan

Unlike loans based on existing equity, a renovation/construction loan does not use your home as collateral so if you are wanting to avoid that or don’t have much equity then this may be a great option.

However, this does often have more strict credit and income requirements as well as a higher interest rate typically, making the monthly payment often higher than with other options.

Alternative Options

Beyond these traditional loans there are still a few other options that you can look into, including:

  • A personal loan or line of credit
  • Use of retirement accounts or personal investment
  • Sale of another home or property
  • Borrowing from family and friends
  • Private money loans
  • And more

Ultimately there are most likely many more options than you would realize as well as dozens of different lenders with different terms to help you get approved for the payments that work best for you and your goals!

Contact us to learn more about financing options

Ready to See if You Qualify?

Are you ready to see what financing options you qualify for and what the payments would look like so that you can get an idea of what would be the best fit for you?

Request a FREE property analysis and estimate TODAY and we will be able to go over more details with you as well as connect you with our financing team once we have analyzed your property and given you a firm estimate at no cost. This way you can have complete clarity on what the cost is and how that would break down into your payments.

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Anchored Tiny Homes of Grand Rapids & Northern Michigan

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What Our Customers Say About Us

  • Bobbie Bice
    So grateful for anchored tiny homes what a blessing this company is!
  • dball913
    The project initially commenced with standard expectations, yet encountered numerous challenges and setbacks along the way. Despite an anticipated completion timeframe of 6-8 months, the endeavor extended nearly two years. Communication emerged as a prominent issue, with prolonged periods of inactivity lasting up to three weeks at a time. Additionally, the project underwent managerial transitions on seven separate occasions, further complicating matters. However, the introduction of Martin Schafer marked a pivotal turning point. Martin’s proactive approach and exceptional dedication revitalized project dynamics. His unwavering commitment and efforts transcended expectations, significantly improving project outcomes. The resultant work achieved commendable standards, garnering praise from observers for its exceptional quality. Acknowledging the transitional challenges faced by the company, it is imperative to recognize Martin's instrumental role in salvaging the project. Without his exemplary leadership, the project's overall rating would have undoubtedly suffered.
  • nona dadash
    It was about a year ago that we signed the contract with ATH and our ADU is in its final stages. Along the way in the building of my ADU, there have been bumps in the road; rainy weather, construction delays, lack of communication, designer and project manager changes, but let's be real I don't think you can have a construction project that you don't run into challenges, delays, and problems. ATH Is no exception to this fact unless you have expert and caring people on your team. I was lucky enough to have some of these people on my team; Rick Manzanares as my ADU specialist and Bob Brecht as my project manager. Rick has been my go-to person since day one; he is transparent, caring, knowledgeable, honest, and helpful. Bob is my 2nd project manager who came to save my project when I was not happy with the progress of my project; he did his best to keep things moving quickly, communicated almost daily, and managed the contractor and workers as best he could.; I'm so grateful for his good attitude, responsibility, and work ethics. My ADU looks beautiful so far and I can't wait to see the finished work. I will take a pic and post it here later.
  • Rose Disney
    I signed with ATH three years ago when they were a new and rapidly growing business, so there've been some...growing pains. That said, although ATH isn't the first contractor we've run into that couldn't deliver on 100% of their promises, they are the ONLY contractor I've ever worked with that has shown a consistent and long-term willingness to try. In my opinion, my project manager Martin is the shining star of ATH. He clearly puts all of himself into his job. He's super responsive and helpful and goes above and beyond to make sure everything meets the expectations set back when my contract was first signed with the company. I'm truly grateful to have him as my point of contact.
  • Joe Manzo
    The process of getting the unit built took longer than expected but it was exceptionally handled by our Project Manager Martin Schafer. Throughout the project Martin worked extremely hard to make sure things went as smooth as possible. He made several attempts and had success in getting the project completed. Should you decide to have a unit built, ask for Martin to be your Project Manager. You will be happy you did!
  • Ava R
    Very organized information and easy to navigate website. Catalog easily downloaded. Only cons is pricing.
  • Eric Harvey
    We worked with ATH to build a custom ADU in our backyard, and we are very happy with the way it turned out. The project had some unexpected turns and bumps in the road, like building projects always do, and ATH made navigating them much easier and faster. Our project manager, Pamela, went above and beyond to make sure things were done right and the changes we requested in the course of construction were implemented.
  • Ted Scranton
    Martin and Jordan were a pleasure to work with on our ADU project over the last 2 years. Although there were several hiccups along the way we are happy with how the final product turned out.
  • Wendy “Wendizzle”
    We did a phone call and Rick was very knowledgeable and had screen sharing so I could see my options.
  • Blanca Gavina
    I’ve been working with Anchored Tiny home for almost 2 years. Roman Sandoval has been wonderful! His communication is amazing and has offered me exceptional customer service. He has answered all of my questions promptly and he is very thorough. I absolutely love my new ADU!
  • Bradley Jones
    Anchored Tiny Homes is the unquestionable leader in the building of accessory dwelling units across the United States. They will change the course of affordable housing in America.
  • Sunny Lombardi
    I am kicking off an ADU build with ATH any day now…well down the path and will add to this initial review later. I did want to share what my experience has been to date with ATH. I was super fortunate to meet Lawrence Kao of ATH first. As a sales professional myself I can’t help but not only think about the product but also the salesperson style. Lawrence has been an easily accessible and responsive pro. He has been able to answer any question I have had with ease and has instilled the kind of trust that causes one to feel great to work with the business and person representing it. Can’t wait for next steps and am stoked the project kicked off with Mr. Kao!
  • Brian Negri
    Lawrence Kao has been a colleague and mentor of mine. He is the consummate professional and a true expert in the ADU world. When considering an ADU, you want a good partner and that's what Lawrence brings to your project.
  • Alicia Smith
    Lawrence has been an incredible resource in assisting us in strategies in developing on our properties. His wealth of knowledge on ADUs specifically on the investment side is incredible. We look forward to partnering with Anchored Tiny Homes on our further investment endeavors.
  • Dina Mahshi
    I recently had the pleasure of working with Anchored Tiny Homes in Sacramento to build a one-bedroom unit for my mother, and I must say the experience was exceptional. One of the standout aspects of my interaction with Anchored was the transparency and clarity regarding project costs. The agreed-upon project cost and payment schedule were adhered to without any deviation. It was a relief to have no hidden fees or unexpected additional costs, which can often be a concern in construction projects. The coordination with the city for permits and inspections was another commendable aspect. Anchored Tiny Homes demonstrated efficiency in navigating the bureaucratic process, ensuring that permits were obtained, and inspections were carried out promptly. This streamlined approach made the overall process simple and hassle-free. I cannot speak highly enough about our project manager, Martin. His professionalism, kindness, and honesty made the entire experience enjoyable. What stood out the most was Martin's proactive approach to problem-solving. Rather than just presenting issues, he always came prepared with viable solutions, making decision-making easy and efficient. Although the project timeline extended slightly beyond the initially promised timeframe due to a delay in building materials, the crew's efficiency was evident once they broke ground. Despite this minor delay, we successfully moved my mother into her new home on Mother's Day, creating a memorable and special moment for our family. Moreover, the after-sales service from Anchored Tiny Homes has been outstanding. Any concerns or issues with the unit are promptly addressed without pushback, demonstrating their commitment to customer satisfaction. Anchored Tiny Homes commitment to transparency, efficient project management, and excellent customer service, especially through Martin, made the process smooth and resulted in a beautiful and beloved home for my mother. I highly recommend Anchored Tiny Homes for anyone considering a tiny home construction project. Call Martin today for a free estimate and tell him I sent you to get $2500 off your project price.
  • Chantall Walton
    "Working with Roman Sandoval was an absolute game-changer for our construction project. He stepped in at a critical moment, taking over from previous contractors who had failed to deliver. His approach was nothing short of exceptional. Roman not only completed the tasks at hand but went above and beyond to ensure customer satisfaction. His dedication to doing the job right was evident in every aspect of his work. Without his timely intervention, our dream home would still be an incomplete project. We are immensely grateful for Roman's extraordinary efforts and unwavering support. He is, without doubt, the best contractor we have ever worked with. Thank you, Roman Sandoval! Here’s 5 stars that are well deserved! 🙏🏼
  • Mary Ann Ballesteros
    I had an idea of what I wanted for my 3 bedroom ADU to replace my mini basketball court in my backyard ... Colton and Anchored Tiny Homes took my vision: ATH, the designers, Roman Sandoval and APC made it all happen... they made my vision come to life! Along the way in the building of my ADU, there were road bumps, permit delays, the stormy weather, construction delays to name a few.... but this is where I would be so proud to say ... "T'was late but worth the wait!!!"!!! My ADU looks absolutely beautiful and amazing! The quality of work, the workmanship is truly exceptional! Shout out to Dee (ATH miracle staff), Roman (ATH project manager) and Armando (Absolute Precision) for making this project smooth sailing.... I was completely amazed by the way ATH handled my issues with transparency and a positive approach towards making things right. . . And yes, ATH made it happen! Thank you from the bottom of my heart ❤️!!!
  • Peter Rizzo
    Great website
  • M W
    Anchored Tiny Homes just completed a wonderful backyard home office for us. We love our office and had a great experience with Anchored and their subs. They came in with a very fair price and worked with us throughout the process to make sure we got what we wanted and needed out of the design and final product. We have already recommended them to multiple friends and neighbors. Thank you Jordan especially!
  • lisa renken
    I had Anchored Tiny Homes build an ADU in my backyard in Lincoln Ca for my folks. Colton was always professional, positive and worked with integrity. Anchored worked through a few issues with promptness and understanding! My folks, and I, couldn't be happier, it's perfect!
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