MEREDITH — Meredith Village Savings Bank will expand its mortgage loan offerings with a specialized home mortgage for constructing accessory dwelling units. The new solution will give local homeowners a new option for financing the addition of an attached or detached living space to their existing residence, without adjusting the rate on their current mortgage.
“As a community-focused bank, we’re dedicated to addressing local housing concerns, and accessory dwellings are a great way for residents to modify their home to meet their evolving needs,” said MVSB Vice President of Residential Mortgage Sales Charlie Dowd. “Whether it is for generational housing or to create supplemental revenue through an ADU – we are proud to provide a financing solution tailored for this purpose.”
ADUs are fully self-contained housing units, complete with their own kitchen, bathroom, and living/sleeping area. Under state law, homeowners have the right to create an ADU for a family member, caregiver or as a rental unit, as long as it complies with all local ordinances.
For more information, visit mvsb.com/adu.
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