Project financing
Ways to pay for your ADU or remodel
Most homeowners don't have the cash for a major build sitting in savings, and they shouldn't have to guess at their options. Here are the routes San Diego homeowners actually use, explained straight.
Know your options
Four common ways to finance a build
Every one of these is secured by your home, and the right fit depends on your equity, your current mortgage rate, and your plans. Your lender can tell you which; here's the honest lay of the land.
HELOC
Home equity line of credit
A revolving credit line secured by the equity you already have. Draw what you need during the build and pay interest only on what you use. A common pick for homeowners with significant equity who want flexibility.
Home equity loan
Also called a HELOAN
A lump sum at a fixed rate with fixed payments, secured by your equity. Less flexible than a HELOC, more predictable. Fits projects with a firm budget and owners who want a payment that never moves.
Cash-out refinance
Replace your mortgage, take the difference
Makes the most sense when current mortgage rates are near or below your existing rate. If you're sitting on a low rate, the options that leave your first mortgage untouched usually pencil out better.
Renovation loans (RenoFi)
Borrow against the after-renovation value
Online platforms like RenoFi qualify you against what your home will be worth after the project, which can mean more borrowing power without touching your current mortgage. One option worth comparing alongside the others.
Nucave Construction is a builder, not a lender, and does not provide financial advice. Talk to a licensed lending professional about your situation.
Online option
Get an instant look with RenoFi
RenoFi is an online renovation lending platform that estimates your borrowing power against your home's after-renovation value. It's one option among the four above, and the estimate is a quick way to see rough numbers before you talk to anyone.
The estimate takes minutes and doesn't affect your credit.
Get a RenoFi EstimateLoan terms are set by RenoFi and its lending partners.
Financing FAQ
Questions homeowners ask us
First things first
Financing starts with a real number
Lenders need to know what the project costs before anyone can tell you how to fund it. That's the part we do: a realistic budget for your lot and your plans.