Put your home to work to earn you extra money.

Become a landlord in the comfort of your own home. We make it easy with our loan programs for Accessory Dwelling Units.

Are you considering expanding your home to build an Accessory Dwelling Unit (ADU)? We’re here to help make your home earn you money.  Accessory Dwelling Units can be as simple as converting a basement, garage or a freestanding building into an apartment. Making these types of improvements to your home can increase your home value and provide you with a new stream of income. An ADU is not only helping you, but it’s helping solve a critical mission to provide more housing to year round residents of Cape Cod.

With our competitive interest rates and various term options, now is the perfect time to lock in the best rate for your plans. Our lending decisions are made on the Cape, so you’re assured of a fast response. Plus, our experienced loan officers will match you with the right product and terms to fit your unique needs.

What do I need for my ADU?

  • We’ve implemented flexible qualifying guidelines to allow the use of projected annual rental income towards your income. Credit, income and asset verification will be required.
  • Evidence of Town issued Permit
  • Copy of Builder plans and specs (Stick or Modular Builds allowed)

Home Equity Lines & Loans

Designed to be in 1st- or 2nd-lien position, (you can use funds towards paying off your existing lien) this fixed-rate loan or open-ended line of credit allows you to take equity out of a home you already own. Put your home to work for you with a home equity line or loan through The Cooperative Bank of Cape Cod. You can use the equity you have in your home to secure low interest financing on a loan to use for your ADU.

  • Competitive rates
  • Local decisions and underwriting
  • Easy application process
  • Available for Primary Residence or Second Home
  • HELOC with floating or fixed rate options. Draw only when you need the funds.
  • HELoan with low fixed rates and various payment terms available.
  • Loan amounts up to $250,000

Mortgage Refinance

Make your home work for you & take advantage of low interest rates by refinancing and taking cash-out to build your new ADU.

  • Competitive rates
  • Local decisions and underwriting
  • Easy application process
  • Available for Primary Residence or Second Home
  • Fixed Rate Mortgages with various terms available.
  • Maximum Cash out towards ADU of $250,000