Finance accessory dwelling unit (ADU) construction in SLC's west side
In partnership with the Salt Lake City Community Reinvestment Agency, CDCU and its affiliate, Utah Community Investment Fund, are offering a construction loan for homeowners who live on the westside of Salt Lake City who want to build an accessory dwelling unit (ADU) on their property.
Program overview:
- Home must be owner-occupied
- Property must be located west of I-15 in Salt Lake City municipal boundaries
- Loans available of up to $200,000
- 30-year amortization
- 3% fixed rate
- $2,000 origination fee ($200 of which is payable as an application fee and the remainder may be included in the loan amount)
- Homeowners are required to contribute a minimum of $1,000 in personal liquid funds towards the transaction
- Homeowners who earn greater than 80% of area median income must rent the ADU or the primary house at fair markets rent to households earning 80% of area median income or below. You can get an estimate of your area median income here: https://cdcutah.org/ami-calculator
- Homeowners who earn 80% of area median income or below will not be restricted to renting the ADU (the ADU can be lived in by the homeowner, relatives or rented to anyone at any price)
Want more information?
- Review the information on Salt Lake City Building Services’ website and Salt Lake City’s ADU Handbook for an overview of the process
- Fill out CDCU's ADU web inquiry form below
Ready to apply?
- Fill out CDCU's HomeStart Coaching Program application below and indicate you are applying for the ADU loan program
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