Financing Your Remodel, Addition or ADU
Green Design and Build offers financing programs through Synchrony, Service Finance and Home Run Financing. We are a licensed general contractor (CSLB #1110975) and design-build remodeler based in Van Nuys, serving homeowners across Los Angeles County, Orange County, Ventura County, western Riverside County and western San Bernardino County (Ontario, Rancho Cucamonga and neighbouring cities). Terms depend on the lender and your credit approval; we do not set rates, and we do not promise approval. This page explains what kind of financing each program is, the other ways homeowners pay for a project, how California’s down-payment cap and progress payments work, and when to arrange financing so it does not hold up the schedule.
Who we are
Green Design and Build is led by Dekel Sofer. We hold a 4.7-star rating across 146 Yelp reviews and have completed hundreds of projects, from bathroom refreshes to detached ADUs and second-story additions. The financing programs below are the ones we can start an application with; the rest of this page is there because most of our customers use something else.
The financing programs we offer
We are the contractor, not the lender. Each program below is offered by the lender under its own terms; we can start an application with you, and the lender decides. We have described each program only in the lender’s own general terms.
Synchrony
Synchrony is a consumer finance company whose home improvement program runs through a credit card offered at participating contractors. Synchrony describes its Project Card as “a convenient consumer financing option for your home improvement business” that lets contractors “give your customers the freedom to finance their dream project.” In practice it is a revolving credit account: you apply, and if approved, the project is charged to the account and repaid under the card’s terms. Card terms, promotional offers and approval are Synchrony’s.
Service Finance
Service Finance Company, LLC describes itself as “a nationally licensed sales finance company and an approved FHA Title I Lender” that offers “promotional and standard installment terms for home improvement contractors enrolled in the SFC Financing Program.” It is an installment loan: a fixed amount repaid in scheduled payments, arranged at the point of sale through the contractor. Loan terms and approval are Service Finance’s.
Home Run Financing
Home Run Financing offers PACE (Property Assessed Clean Energy) financing. In its words, “PACE financing is not a government grant or subsidy. It is voluntary financing repaid on the property-tax bill,” and approval “is based on your ability to pay, NOT on your credit score.” PACE is different from a loan or a card: the amount is repaid as an assessment added to your property tax bill, and it is tied to the property. In California, PACE program administrators are licensed and regulated by the Department of Financial Protection and Innovation. Eligible project types, terms and approval are Home Run Financing’s, and PACE programs are limited to certain improvements, so ask us whether your scope qualifies before counting on it.
Which of the three fits depends on the size of the project, the improvement type, how quickly you want a decision and how you prefer to repay. We will tell you what each requires from you; the lender tells you the terms.
Other ways homeowners pay for a project
Most of the additions, ADUs and whole-home renovations we build are paid for with home equity or savings rather than contractor-arranged financing. None of the options below involve us, and we are not advising you to choose one; a mortgage broker or your bank can compare them for your situation.
| Option | What it is | Suits | Considerations |
|---|---|---|---|
| Cash or savings | You pay progress payments from funds you hold | Any size project; most kitchens and bathrooms | Keep the contingency in reserve rather than spending to the last dollar |
| Home equity line of credit (HELOC) | A revolving line secured by your home, drawn as needed | Projects paid in stages: additions, ADUs, whole-home renovations | Variable rate is common; draw only what each progress payment needs |
| Home equity loan | A lump-sum second mortgage with a fixed payment | A defined scope with a known contract price | Funded once, so the contingency must be included up front |
| Cash-out refinance | A new first mortgage larger than the old one, with the difference paid to you | Large projects when refinancing makes sense anyway | Replaces your existing mortgage rate; closing costs |
| Renovation mortgage (for example FHA 203(k) or a conventional renovation loan) | A purchase or refinance loan that includes the renovation budget, based on the after-renovation value | Buying a house that needs work; large renovations with limited current equity | Lender oversight of the contractor, draws and inspections; longer closing |
| Construction loan | A short-term loan that funds a build in draws, then converts to or is replaced by a mortgage | New homes, some large ADUs and second stories | Draw inspections; interest-only during the build |
| Contractor-arranged financing (Synchrony, Service Finance, Home Run Financing) | Card, installment or PACE financing applied for at the point of sale | Small to mid-size scopes; homeowners who want a fast decision | Terms set by the lender; PACE is repaid on the property tax bill |
This table compares product types, not rates. The right choice depends on your equity, your existing mortgage, the size of the project and how long you plan to keep the house.
California’s down-payment cap and progress payments
California law protects homeowners from paying ahead of the work. Under Business and Professions Code section 7159, a home improvement contract must state that “the downpayment may not exceed $1,000 or 10 percent of the contract price, whichever is less,” and that “it is against the law for a contractor to collect payment for work not yet completed, or for materials not yet delivered.” Our contracts follow that. You pay a deposit of no more than $1,000 or 10 percent, and then progress payments tied to completed milestones, with the final payment after the walkthrough and the last inspection. Our guide to contractor payment schedules in California shows what a typical milestone schedule looks like.
This matters for financing in two ways. A lender does not need to fund the whole project on day one; a HELOC or a construction loan can be drawn as each milestone comes due. And any contractor asking for a large deposit before starting is asking for something California law does not allow, whatever the financing.
How financing fits the schedule
The one rule: have the money settled before the design deposit, not before demolition.
- Site visit and proposal. We visit for about two hours and deliver an itemized written proposal within about 48 hours. That proposal is the number to take to a lender.
- Financing approval. Apply with the lender of your choice, or start a Synchrony, Service Finance or Home Run Financing application with us. Approval before the contract avoids a signed scope waiting on funds.
- Contract and deposit. Deposit capped at $1,000 or 10 percent. Design and, where needed, engineering begin.
- Selections and orders. Cabinets, windows and fixtures are ordered against the approved design; long-lead items are the reason funds need to be available early.
- Permits and construction. Progress payments follow the milestones in the contract.
- Walkthrough and final payment. After the punch list and the final inspection.
For an ADU, add the utility and sewer work that can move the budget; our ADU financing options guide covers how homeowners fund the larger projects, and our published estimates show what each type of project typically costs so the application asks for the right amount, including a contingency.
What we need from you
Nothing beyond what a lender asks. For the contractor-arranged programs we need the proposal, your contact details and the lender’s application, which you complete directly with the lender. For a HELOC, refinance or renovation loan, your lender may ask us for a copy of the proposal, our licence number (CSLB #1110975), a certificate of insurance and, on renovation loans, a draw schedule and inspection access; we provide all of it.
Where we do this work
Financing works the same in all five counties, but the projects being financed differ. In Los Angeles County and the San Fernando Valley, ADUs on post-war lots are the projects most often funded with a HELOC or cash-out refinance; in Orange County, kitchen and bathroom remodels in master-planned communities often go through the point-of-sale programs; in Ventura County, fire-zone rebuilds and additions in Thousand Oaks and Simi Valley are typically equity-funded; and in western Riverside County and western San Bernardino County, newer tract homes carry more equity for additions and outdoor living projects. See every area we serve.
Frequently asked questions
Does Green Design and Build offer financing?
Yes. Green Design and Build offers financing programs through Synchrony, Service Finance and Home Run Financing. Synchrony’s program is a credit card offered through participating contractors, Service Finance offers installment loans arranged at the point of sale, and Home Run Financing offers PACE financing repaid on the property tax bill. Terms depend on the lender and your credit approval; we are the contractor, not the lender.
What is PACE financing and how is it different from a loan?
PACE (Property Assessed Clean Energy) financing, which Home Run Financing offers, is repaid as an assessment on your property tax bill rather than as a monthly loan payment, and the lender states approval is based on ability to pay rather than credit score. It is tied to the property and limited to eligible improvement types, and in California the program administrators are licensed by the Department of Financial Protection and Innovation. Ask us whether your scope qualifies and read the lender’s disclosures before choosing it.
How much deposit can a contractor ask for in California?
Under Business and Professions Code section 7159, the down payment on a California home improvement contract may not exceed $1,000 or 10 percent of the contract price, whichever is less, and a contractor cannot collect payment for work not yet completed or materials not yet delivered. Green Design and Build’s contracts follow that, with progress payments tied to completed milestones. A contractor asking for more up front is asking for something the law does not allow.
When should I arrange financing for a remodel?
Arrange financing after you have a written proposal and before you sign the contract and pay the design deposit. The proposal gives the lender the exact number, including permits and a contingency, and having approval in hand means design, engineering and long-lead orders such as cabinets and windows are not waiting on funds. Green Design and Build delivers the proposal within about 48 hours of the site visit.
Can I finance an ADU?
Yes. ADUs in Los Angeles typically run from $100,000 for a garage conversion to $300,000 to $450,000 or more for a detached 1,000 square foot unit, so most are funded with home equity, a cash-out refinance, a renovation or construction loan, or a combination with savings; the contractor-arranged programs may fit part of the scope. These are typical Los Angeles budgeting estimates, not a price list or a quote, and the amount to finance should include a contingency. See our guide to ADU financing options.
Do you quote interest rates or guarantee approval?
No. Green Design and Build does not set or quote interest rates, promotional periods or approval odds for any program, because those belong to the lender and depend on your application. We will tell you what kind of product each program is and what it requires, and the lender gives you the terms in writing. Compare them with a HELOC or refinance from your own bank before deciding.
Get the number first, then the financing
Request a free site visit and you will have an itemized proposal within about 48 hours, ready for any lender. Whether it is an ADU, a kitchen remodel or a room addition, we will walk you through Synchrony, Service Finance and Home Run Financing and what each needs, and the work is covered by our warranty. Start on our contact page.