We Finance

New Avenue is committed to making it possible for everyone to build a second unit and own their homes forever. In order to make this possible we offer a financing plan that enables you to build a home with no money down.

With our financing, you won’t need to use your savings or sign up for another mortgage to design and build a second unit now. New Avenue will pay for the cost of construction and allow a tenant to repay the construction cost over a 25 year period. With no mortgage or home equity line of credit, you are not personally responsible for a monthly payment. It is New Avenue’s responsibility to build the home on budget and the tenant’s responsibility to pay their monthly rent. The rent will, in time, repay the cost of construction that is owed to New Avenue and you will end up owning the new home free and clear.

In order to use our financing, we require that you have equity in your home and that you will rent the new second unit. If you want to charge a reduced rent because your tenant is a good friend or family member then you can do so. If you want to earn a return on your investment, then we can charge market rent and a share of the profits from the home will be paid to you.

The advantage of using New Avenue financing is that we take responsibility for building a home that we know will create substantial value. Value that you will keep and that you can put towards building a stable financial future that will benefit generations to come.