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Home»Real Estate»Pasadena ADU Program Offers Second Shot At Affordable Housing
Real Estate

Pasadena ADU Program Offers Second Shot At Affordable Housing

February 15, 2025No Comments3 Mins Read
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To be eligible for the Pasadena Second Unit ADU Program, homeowners must have owned and lived in their main property for at least five years, maintain a credit score of 650 or higher, and have a debt-to-income ratio below 40 percent.

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Pasadena, California has launched a second phase of its Pasadena Second Unit ADU Program, which incentivizes homeowners to construct affordable rental units on their properties, as per the city.

Through this program, homeowners can secure up to $225,000 in three-year construction loans to cover the design, permits, and overall construction of a new accessory dwelling unit (ADU) or “granny flat.”

The funds can also be used to renovate and legalize an existing unpermitted “granny flat” or illegal ADU conversion, such as a garage or back house.

“Granny flats” are self-contained residential units located on the same lot as the main residence. These units have historically offered affordable housing options for extended family members, adult children, and additional rental income for landlords.

The demand for these units increased after the recent Los Angeles wildfire crisis, which displaced many residents in Pasadena and near the Eaton Canyon in the San Gabriel Mountains.

Recent legislative changes have also simplified the process of utilizing ADUs.

The construction loan program features:

• 3-year term loan at 1 percent simple interest with deferred payments
• Loan secured by trust deed on the homeowner’s property
• 5-year affordability housing covenant required for the ADU
• Property with no more than one existing unit
• Main house must be owner-occupied
• Coverage of design, permits, and construction expenses
• ADU must be rented exclusively to Pasadena rental assistance households for seven continuous years

To qualify, applicants must have owned and lived in the main property for at least five years, maintain a credit score above 650, and have a debt-to-income ratio below 40 percent. Their combined loan-to-value ratio must be under 80 percent of the home’s value, and they cannot have an existing city loan.

All household members must be U.S. citizens or permanent residents.

Selected applicants have 20 days to submit the necessary loan documentation for lender verification and loan package preparation. The application deadline is Feb. 28 at 10 p.m.

Contact Richelle Hammiel via email

ADU Affordable Housing Offers Pasadena Program Shot
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