$40,000 ADU Grant part 1

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Hello everyone in this video Luz will cover the process to get the $40,000 ADU grant.
Luz is a CalHFA ADU Grant Program Lender. Get your Grant
www.nwm-loans.com/link-in-bio/
✅ Need a designer to help you draw plans for your ADU. Natalie can help
www.heekk.com/adu-plans
✅ Get your Free ADU Estimate by a Contractor
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✅ ADU subcontractors for Owner Builder's
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✅ This ADU Masterguide will help homeowners build their ADU
www.heekk.com/adumasterguide
✅ For any Real Estate inquiry's please text or call me 818-564-5835
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✅ For ADU questions please book an appointment. Please do not call without an appointment. Thank you
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Hektor
Los Angeles Realtor
818-564-5835
DRE LIC #01881677
Nationwide Real Estate Executives
4401 Atlantic Ave #100, Long Beach, CA 90807with Nationwide Real Estate Executives Bre 01881677with Nationwide Real Estate Executives Bre 01881677
Pre-Development Cost
Plans
Permits
Surveyor
Engineering
HUD Inspectors
Impact
fees
Title 24
Property grading
Architect
Ground clearing
Utility trenching
Excavation
Septic
Nonrecurring - Closing Cost
Lender
Title
Escrow
Points for rate buy down
Hektor
Los Angeles Realtor
818-564-5835
DRE LIC #01881677
Nationwide Real Estate Executives
4401 Atlantic Ave #100, Long Beach, CA 90807

Опубликовано:

26 авг 2022

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Комментарии : 66

@anand21900 2 года назад

Hektor - your ADU construction guide is great. Thank you for sharing. What Luz is sharing here regarding - having to refinance primary is INCORRECT. Most of the population has locked in below 3% 30 yr fixed, why would someone refi to get this $40k grant? There is a way to get second position loan and Luz needs to find that out or may be her lending company doesn't support this. To benefit your channel and your viewers; you must vet this information. There are lenders offering second position loan to get this construction loan and enable the $40k grant. There are specific requirements and terms to get the loan.

@Ucarmona1 2 года назад

Hi which lenders are the ones you are talking about. I would be interested in talking to them. Thanks!

@loansbymango1876 Год назад

@@Ucarmona1 Hey Ulysses, I can do 203k loans and Construction loans. Contact me!

@shauntildawn Год назад

OneTrust Home Loan is one of them. I believe the person you want to talk to is Sean Germon. It’s really a shame that this video is not giving complete information and forces people into thinking that they can only refi when that’s not the case. It takes a lot of credibility and trust away from both of these individuals. I understand they have a partnership but they definitely have a specific agenda to funnel people to this loan group. Hope there is a followup.

@lfuentes4098 Год назад

Thanks. This makes a out of sense.

@HowToADU 2 года назад

You can absolutely apply for the grant without applying for a loan. The whole section around 5:00 is not applicable anymore. CalHFA changed this mid August. Hektor, if you want help on part 2 let me know.

@californiagrape 2 года назад

Ryan is a true ADU professional and influencer for ADUs..

@PersianGulf007 Год назад

Who in the right frame of mind wants to refinance his or her low existing interest mortgage loans with today’s high mortgage rates? Also, by bringing in a general contractor on board, you may end up paying 40% more in construction costs to the licensed general contractor. If you do not have the cash to do the ADU, please do not do it. Please do not fall for these traps called up to $40k grants. God Bless & Happy Holidays.

@lorenazaragoza6411 Год назад

I was just granted the grant 9/6/2022 . I haven’t submitted any invoices and my balance I think is at 32 or 33k due to fees with escrow, ect. Please keep that in mind as you budget. Good luck to everyone!

@HektorCastillo Год назад

Lorena congrats!!

@mausrealm7395 Год назад

Did any one catch on.... she's trying to get her commission which is why she keeps referring to a home refi. You can pay the difference with cash.

@hihoney1122 Год назад

Just subscribed.. great video

@elfocker 2 года назад

A little late information when interest rates are double of what I currently have. I wish I knew sooner. I've been looking into an Adu. Thanks anyway good to keep in mind.

@GoldSon33 2 года назад

Thank you for the information. Very helpful!

@MariE-go7ol Год назад

I heard on another site I could take out a home improvement loan on my house, same as second mortgage. My first mortgage has a 3.5 % interest so I definitely wouldn’t want to lose my first mortgage loan interest.

@NA-mh1cn Год назад

B.S. alert! So let me get this straight. I refi my primary $500K loan from 3% to new market rates (e.g. 7%) effecively increasing my P&I payment by more than $1.2K per month, to get "up to" $40K in grants that can amazingly be used to pay the lender some profit producing points, that can then 'buy down' my interest rate from say 7% to perhaps 6.5% or 6%. So that my net monthly P&I would only increase by $890 per month. Then if my planning phase is up to $40K in usage of grants minus points paid ofcourse. I get to pat myself on the back for adding over $320K in P&I payments to my new 30yr loan. Where do I NOT sign up?

@joeman6730 Год назад

I just completed my ADU. I remember hearing about this grant last summer, i guess i missed out on this opportunity. I remember researching the grant a bit. And recall telling myself "i dont qualify." Now that im done, i recently researched the grant again, and now im telling myself "i think i qualified." I paid all cash for project. Did i mess up? Im well under the income max

@socplayer834 2 года назад

This is great! When is Part 2 getting released? We want to build an ADU this year

@oscarorozco6783 2 года назад

Hi Hektor, Thank you for preparing this information. I wanted to reach out regarding the $40K grant. I saw that they are now allowing you to use cash from your savings as an option to apply for the grant. I noticed that the application is down for the month of September, do you know if it will be back for the month of October or is it permanently closed for the year. Please let me know if you have the application on the side so my wife and I can begin the process of aggregating all of our documents.

@Ucarmona1 2 года назад

Have you looked into this Oscar?

@hectorgarcia9792 Год назад

What about an EDU Efficiency Dueling Unit? Would they cover that?

@eschrader 2 года назад

Awesome info! If I have a primary mortgage with a good loan to value ratio on my property and super low rate can I take out a second construction loan for the net cost of the adu?

@czarrevs3616 2 года назад

I don't want to refi my low interest loan for this grant....what's the work-around?

@HektorCastillo 2 года назад

You can submit an application via HPP Cares. You don't have to Refi or get a construction loan with them. Their link is on the description 👍

@swdavis7042 2 года назад

No, you don't need to take a loan and refinance, you can put your own money also.

@tracylieu3211 2 года назад

Is this grant apply for building single family unit under sb9?

@XioArleen Год назад

who gets the money if you do it "owener builder" like Hektor did? Like using different people and not just one contractor.

@lfuentes4098 Год назад

So does this grant only for pre development? What if the homeowner is completely some of the work themselves? How would that affect the loan and grant? Thanks.

@bigboybuilder77 Год назад

What's the average cost to build a detached adu? 800 or 1000 sqft.

@alexaviervelazquez748 2 года назад

Hey Hector I have a question for you ? Does that money only go towards pre construction ? So only for blueprints, designer, architect & all that ? Not for solid framing, foundation, drywall etc. Right ? That’s what I got from your vid. Let me know if I’m wrong. I hope the grant also covers the construction.

@HektorCastillo Год назад

Alex you are correct the Grant only covers pre development cost. The grant does not cover construction cost

@XioArleen Год назад

@@HektorCastillo but pre-construction cost does not amount to $40K. I paid like $5,000 for my plans and that was the only pre-development cost.

@DCmite1 Год назад

so no owner/builder will qualify

@gbarraco8888 Год назад

Are there programs like this in New York?

@oscarmartinez8113 Год назад

Hey guys I want a adu in a 8 by 22 long but I have not idea what will my first step will be. Do I need a permit from citi? What do I do first? I live in Los angles Boyle heights

@HektorCastillo Год назад

Call building and safety ask them if you can build your desired ADU, then call an ADU designer for plans and finally talk to a contractor for estimates. Good luck 🍀👍

@josecampos9372 Год назад

Refinace my current 3% interest rate to todays 6% NO THANK YOU!

@HektorCastillo Год назад

I just bring the news 📰😄

@NA-mh1cn Год назад

HaHa so funny. She even said the grant can be used to pay commission points to buy the rate down. Where do I NOT sing up?

@ceciliashevlin1152 Год назад

Does this lender work with ppl in other areas? I applied via HPPCARES, but I am getting no information from them at all. I am in Sacramento, CA.

@Hellogoodbye_ 2 года назад

What are requirements to build on top of a garage?

@HektorCastillo 2 года назад

The ADU plans need to have structural engineering.

@Hellogoodbye_ 2 года назад

Like extra footings and frame work? Also thank you for the reply

@Luismarambula Год назад

are you issued a 1099 for that grant?

@onememories8523 2 года назад

What happens next after you get approved for 40k grant ? How long can sit on the approved 40k grant since the interest rate is pretty high right now?

@jasonmoreno3530 2 года назад

Can we still get the grant if we already have a JADU?

@marcc.6744 2 года назад

I have the same thought by turning my garage into my adu. Will that qualify for the ADU grant…?

@rodgea3103 2 года назад

What if I already have a HELOC with a zero balance? Can I use that in lieu of refinancing my 2.0% first mortgage?

@tracylieu3211 2 года назад

Which lender offer you a HELOC with Zero%? I am looking for instead of refi

@lideleon2571 2 года назад

Is income based on total income or adjusted gross income per irs?

@consueloblanco6167 2 года назад

tienen informacion en espanol

@christianorozco9216 2 года назад

Can you still get this Grant if you're half way through your project?

@christianorozco9216 2 года назад

Oh, she answers this @ 9:50. Thanks :(

@Socalarborist 2 года назад

Refinance and lose my 2.75% fixed 30 year mortgage?? Yeah, that’s not happening.

@colbyjoe2 2 года назад

Rent out your house and buy a new one

@Socalarborist 2 года назад

@@colbyjoe2 I’m in S California, too expensive right now.

@kimbui7450 2 года назад

@@colbyjoe2 Mlll M

@blackfox5153 2 года назад

كنا نتوقع شرح عربي😓

@ryanotadi1070 2 года назад

You didn’t answer the main question, or at least I didn’t get it. I have a 3% interest rate and I’m happy with it. If it’s a refi I think it will affect my interest rate. Is that correct?

@yourbeautybff 2 года назад

Yes. Don’t do it. You will end up with current the interest rates. Also, refinance rates are even higher! Your interest rate with likely double. Not worth it!

@tracylieu3211 2 года назад

look for RU-vid channel How to ADU said you don’t need to refi, no loan to qualify for this$40k grand, good luck