Getting a granny flat loan typically involves several steps:
1. Determine your eligibility
Check with lenders to see what their specific eligibility requirements are. Generally, you'll need to meet certain income and credit score requirements, have a good credit history, and demonstrate the ability to repay the loan.
2. Choose a lender
Shop around for lenders that offer granny flat loans. You can check with banks, credit unions, and other financial institutions to see what options they offer.
3. Apply for the loan
Once you've chosen a lender, you'll need to apply for the loan. The lender will typically ask for information such as your income, employment history, credit score, and details about the granny flat you plan to build.
4. Provide documentation
To support your loan application, you'll need to provide documentation such as proof of income, tax returns, and building plans for the granny flat.
5. Get approval
If your application is approved, the lender will provide you with the loan amount and terms. Be sure to review the terms carefully and ask any questions you may have before accepting the loan.
6. Build the granny flat
Once you have the loan, you can use the funds to build your granny flat. Be sure to follow all building codes and regulations to ensure the granny flat is safe and meets local requirements.
7. Repay the loan
Finally, you'll need to make regular loan payments to repay the loan according to the terms you agreed to with the lender.
Roland Financial Services is available to help start the process today. Please fill out the initial application and then schedule a no obligation initial consultation today.
About Us
Roland Realty/Financial is a licensed California based real estate (BRE: 01985792) firm that specializes in investment and residential properties. Founded by real estate broker, investor, author and scholar, Dr. Troy Roland, who has written several books and led investment groups on real estate based on thirty-year experience.
Dr. Roland’s real estate investments typically yield return on investments that exceed national average for return on investment due to his industry knowledge and utilization of noteworthy real estate evaluation techniques. Dr. Roland not only has practitioner experience in real estate as a licensed broker, he holds a Master of Business Administration (MBA) from the University of LaVerne, and a doctorate in organizational change from Pepperdine University.
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