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$40,000 calgrant for ADU Builders. Grant ends in 2023.

Did you know California is offering $40,000 to anyone who is building an ADU within their lot? This is a limited time offer and the program is expected to last till January 2023. There is a housing crisis in California and Governor Newsom just sign a bill that will fund ADU projects in California. That's basically qualifying anyone who meets the requirement of making less than $200,000 per year. The details can be found on the website The $40,000 will go into the soft cost of construction such as the permitting, planning, impact fees, etc. Once you have all your planning with your builder, you would contact an authorize loan officer and they get you approved for the Cal grant. Calhfa, will then send you the funds through a managed money account where the lender/loan officer will control the flow of funds to your developer. This funding will not be passed on to the homeowner, but only through the money account and construction team.

What documents should I have ready when contacting a loan officer?

When initially contacting a loan officer, you may want to have this list of documents and information available to help answer questions that they will ask you:

Pay stubs

Bank statements

Employment history

Previous tax returns

Other questions that people ask is that what if you already constructed an ADU recently and would you qualify? The answer may be tricky on this one, but it doesn't hurt to ask. Also, what if you are in a middle of construction now and paid the soft cost already. You can still apply, and they may give you a credit for your ADU.

We are to thank Senator Bob Wieckowski’s for all these ADU laws that was set into motion. He has developed bills that pushes California cities to be less restrictive on homeowners. Now This ADU grant is another bonus for Californians.

#wieckowski #newsom #calgrant #adu #willbii

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