Financing
Build Now. Pay Later — With Equity or Unsecured Loans.
At UnlockYard, we make it easy to build an income-generating ADU with no money out of pocket. Whether you’re converting a garage or building a new unit in your backyard, we offer two financing paths to fit your goals and timeline.
Which Financing Option is Right for You?
Option 1: Unsecured Personal Loan
- Ideal for garage conversions
- Covers up to $80,000
- Same-day approval — often before we leave the appointment
- No lien on your property
- Fast and flexible, perfect for quick builds
Option 2: Second-Position Home Equity Loan
- Ideal for detached ADUs
- Funds up to $200,000+
- Takes 2–3 weeks to approve
- Secured as a second lien (no refinance required)
- Slightly higher fees, but higher limits and lower rates
Estimated Build Costs
- Garage Conversion: ~$60,000
- Detached ADU (e.g., 800 sq ft): ~$130 per sq ft → $104,000 total
Both options can be fully financed — and we front initial costs until the first loan draw.
Sample Financial Scenarios
Detached ADU – 800 sq ft
- Build Cost: $104,000
- Loan Type: Second-lien @ 7% over 20 years
- Monthly Payment: ~$800
- Expected Rent: $1,500–$1,800/month
Net Monthly Income: $700–$1,000
Garage Conversion
- Build Cost: $60,000
- Loan Type: Unsecured loan
- Monthly Payment: ~$500
- Expected Rent: $1,300–$1,600/month
Net Monthly Income: $800–$1,100
