Build more possibilities on your property
Whether you're creating space for family, generating rental income or adding flexibility to your property, Skowhegan Savings can help finance the construction of an accessory dwelling unit (ADU) on your primary residence property.
With financing available as a first or second mortgage, loan amounts up to $500,000 and terms up to 30 years, our ADU financing program offers the flexibility you need to bring your project to life. Eligible borrowers may finance up to 89.9% of the property's appraised value.
As with our construction loans, you'll benefit from local decision-making, personalized service and guidance from experienced Maine lenders throughout the process. ADU projects are subject to standard construction loan requirements, applicable code enforcement approvals and a Skowhegan Savings approved contractor.
Features:
- Finance the construction of an ADU on your primary residence property
- ADUs may be owner-occupied or used as rental units
- Loan amounts up to $500,000
- Variety of flexible term rate options
- Finance up to 89.9% of the appraised value
- Interest-only payments available during construction for qualified borrowers
- Local decisions and personalized service
Ready to explore ADU financing?
Contact one of our Community Bankers today to learn more about your financing options and take the first step toward building your ADU.
*All loans subject to credit approval by Skowhegan Savings.
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