City of Avenal Accessory Dwelling Unit (ADU) Loan Program
Prior to applying, please contact the Community and Economic Development Department at (559) 386-5766 Option 8 to see if your property is eligible for an ADU and if so, a Site Plan Review Zoning Permit may be required, prior to issuance of a building permit.
Eligibility:
-Build a new ADU or repair an existing ADU
-Must be within the city limits of Avenal
-Maximum $95,000 loan amount (additional financing may be available)
-Owner Occupied
-Deferred payment loan for 30 years, no payments at zero percent interest
-Gross annual household income cannot exceed 80% of the Annual Median Income
-If an existing mortgage must be current and have no late payments in the past 12 months
-Property must contain a legal residential structure intended for continued residential occupancy.
-After rehab value cannot exceed 100% of the current median sales price (changes monthly currently at $350,000)
-Maximum 105% Combined Loan To Value (CLTV)
Call today to get Qualified!
Original source can be found here.
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