We now offer lending options for ADU’s!
An accessory dwelling unit (ADU) refers to a compact residential space situated on the same property as another home. ADUs feature their own kitchen, bathroom, and entrance. They are often used for rental income, multigenerational living, or guest spaces.
ADUs can take various forms:
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They may be located within an existing home, such as transforming a basement into an apartment.
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They can be attached to a primary residence as an addition.
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Alternatively, they can be completely separate structures, like a cottage or a converted garage in the backyard.
Whether you’re planning to build a new detached unit, or convert an existing space, Milford Federal offers multiple financing options:
Not sure which finacing option is best for you? Contact our Mortgage Specialist to discuss leanding options.
If you know what type of financing you would like, you can apply online or visit one of our branches to apply. Learn more about ADU’s at Mass.GOV.
Program restrictions apply. Subject to credit approval.
