In this episode, Steph sits down with Nancy Kenny, a construction-focused loan officer with over 40 years of lending experience, to break down one of the most misunderstood topics in California real estate: how ADUs and SB9 projects are actually financed.

Many homeowners and investors assume there’s a special “ADU loan” or “SB9 loan” that exists behind the scenes. The truth? These projects are financed using traditional and non-traditional construction, renovation, and investor loan programs and knowing how to structure them correctly makes all the difference.

Nancy shares:

• Why there is no ADU-specific loan (and what lenders really use instead)
• How renovation HELOCs, construction loans, and investor programs fund ADUs
• How appraisers determine after-repair value (ARV) for ADU properties
• Why SB9 projects are often easier to finance and appraise than traditional ADUs
• Real-world examples showing how ADUs can turn a single-family home into a cash-flowing asset
• What lenders look for when evaluating ADU and SB9 feasibility
• Why ADUs and lot splits are becoming essential to making California real estate pencil

We also discuss what’s coming next including potential Fannie Mae and Freddie Mac updates, upcoming educational events and why building the right ADU-focused team is critical for success.

Whether you’re a homeowner looking to add income, or an investor exploring ADUs and SB9 strategies for 2026 and beyond, this episode delivers practical insights you can actually use.

Connect with Nancy:

Website: https://vintagelending.com/

Email:  [email protected]

IG: https://www.instagram.com/nancykennyloans/

Connect with me:

📧 [email protected]
Website: www.adugginvestments.org
Youtube: www.youtube.com/@stephsellADU
Instagram: @StephSellsADUs