What if I want to build add an adu onto a home I am purchasing? Is it possible to take one mortgage that covers the cost of the home purchase plus the cost of the adu addition?
You'll want to talk to your lender. Typically you would purchase the home, get a separate construction load or HELOC (Home Equity Line of Credit) for the ADU construction and then refinance.
Renovation loan are also an option that can creates a larger construction budget.
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how long are the terms for construction loans?
I would consultant a loan officer to provide that option. This depends on what you qualify for.
What if I want to build add an adu onto a home I am purchasing? Is it possible to take one mortgage that covers the cost of the home purchase plus the cost of the adu addition?
You'll want to talk to your lender. Typically you would purchase the home, get a separate construction load or HELOC (Home Equity Line of Credit) for the ADU construction and then refinance.