Establishes a loan guarantee program for accessory dwelling units (ADU) to provide low-cost financing for developers and homeowners.
The bill amends RSA 204-C to create a new section for low-cost financing of accessory dwelling units (ADU). The Housing Finance Authority (HFA) will offer loan guarantees to lenders for ADU developers and homeowners. These guarantees will cover between 80% and 100% of the loan value based on the appraised value of a completed ADU. The HFA is limited to issuing no more than $100 million in ADU loan guarantees annually.
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