Financing your project.
We work with lenders who understand modular construction, ADUs, and SB 1211 economics. Here's a starting point.
By audience.
For homeowners
HELOC
Home equity line of credit. Most common for owner-occupied ADUs with existing equity.
Cash-out refinance
Lock in a lower rate while pulling out equity for the build.
ADU-specific loans
Some CA lenders offer ADU-specific products. Varies by region.
Renovation loans
FHA 203(k), Fannie Mae HomeStyle for purchase + ADU build combined.
For multifamily owners (SB 1211)
Cash-out refi on existing property
Use built-up equity in your existing fourplex to fund the new ADUs.
Construction-to-perm loans
Single closing, draw schedule during build, converts to permanent debt at C of O.
DSCR loans on the new income
Underwritten on the projected rents from the new ADUs. Especially useful at scale.
For developers and agencies
Construction loans
Standard developer paper from banks that have done CA modular before.
LIHTC, HOME, bond financing
For affordable projects. We've worked with HCD, CalHFA, and several CDFIs.
Bridge financing
For phased deployments where you want to start the next phase before lease-up is complete.
Warm introductions, not random referrals.
We don't publish our lender list — we don't want to look like we're endorsing them. But we'll make warm introductions to lenders we've actually closed projects with, sized to your project type and region.
Ask for a lender introductionTax considerations
If your Clever unit will generate income (rental, STR, ag-worker housing), accelerated depreciation may apply. Factory-built and modular structures have specific depreciation classifications that often work in your favor.
Talk to your CPA. We're happy to share how factory-built structures are classified.
Need a lender intro?
Tell us your project, your equity position, and your timeline. We'll match you with two or three lenders who close on projects like yours.