General World News

Finance of America debuts refi-ADU product

Finance of America Mortgage (FAM), the multichannel lender, announced today that it is offering a refi product for homeowners with accessory dwelling units (ADUs).

According to a statement issued by Finance of America, the refi option will allow homeowners to refinance the costs of the ADU by consolidating the ADU’s financing with their primary mortgage into a new conforming mortgage loan. This in turn would reduce a homeowner’s monthly interest payments.

The lender said that beyond the rate reduction, the refi product was designed “to help create more affordable housing options” and “allow homeowners to take advantage of recent state changes that details ⇒

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