How to Finance Your ADU in Tampa

Compare rates, find local lenders, and discover local grants to fund your backyard cottage or garage conversion in 2026.

Financing Options Comparison

Loan Type	Rate	Max Amount	Pros	Cons
HELOC	7.5% - 9.5%	Up to 85% LTV	Flexible draws Interest only period	Variable rates Requires current equity
Cash-Out Refi	6.5% - 7.5%	Up to 80% LTV	Fixed rate Single mortgage	Resets 30yr clock High closing costs
Construction Loan	7.0% - 9.0%	Based on future value	Great for low equity Large loan amounts	Complex draws Higher rates initially
Home Equity Investment	No Monthly Pmt	Up to $300k	No monthly payments Easy qualification	Give up future appreciation Expensive long-term

Local Grants & Incentives in Tampa

Florida Live Local Act Benefits

SB 102 (2023) expanded ADU rights statewide. No city can impose owner-occupancy or parking minimums.

Value: Regulatory Relief

Top ADU Lenders Operating in Tampa

Suncoast Credit Union

Local HELOCs for Tampa Bay Homeowners

Rates: From 7.0%
Max Loan: Subject to LTV

Lincoln Lending Group

ADU & Construction Financing

Rates: From 7.5%
Max Loan: $500,000

CenterState Bank

Construction-to-Permanent Loans

Rates: From 7.75%
Max Loan: $500,000

HFS Financial

Home Improvement & ADU Loans

Rates: From 7.5%
Max Loan: $250,000

RenoFi

Renovation Loans Based on After-Renovation Value

Rates: From 7.25%
Max Loan: $500,000

Figure

Fast Online HELOC (5-Day Funding)

Rates: From 7.75%
Max Loan: $400,000

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