What is an Ancillary Suite?
Homeowners often look for homes with an extra living area. Sometimes these are called Ancillary Suites. These are desirable to give visiting family a separate living area or they can be used to earn rental income. But some lenders struggle with these types of loans. They don’t want to extend a loan for a home with an Ancillary Suite because they think it will be hard to sell in the case of a foreclosure. Plus, it is often hard to appraise homes with Ancillary Suites, and that sometimes leads to a denial of your loan by lenders.
HomePromise has approved Ancillary Suite Loans, so give us a call today to see if you qualify!
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