Press Release

Samara Launches Proprietary Financing Product to Bring More Space to Millions of Homeowners

<The new, one-of-a-kind financing product aims to solve one of the core hurdles to widespread ADU adoption.
Above: The new, one-of-a-kind financing product aims to solve one of the core hurdles to widespread ADU adoption.
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REDWOOD CITY, CALIFORNIA — Today, Samara Finance, LLC, a wholly-owned subsidiary of Samara, announced it launched a first-of-its-kind financing product, making it easier for homeowners to finance Backyard, its accessory dwelling unit (ADU). Now, Samara uniquely manages the ADU process from conception to completion, handling everything from product design and prefab manufacturing, to permitting, delivery and installation, to financing. The new financing option makes it possible for homeowners to add flexible space to their homes with competitive rates. This enables the company to accelerate expansion and deliver more units in 2024 and beyond.

Born out of Airbnb’s R&D unit, Samara is an independent company revolutionizing how homeowners can add extra living space to their homes without costly, stressful and time-intensive renovations.

Purchasing a high-quality ADU has historically been unrealistic for many. Homeowners either have to take out a hefty second mortgage with very high interest rates or make an outright purchase in full. Samara’s financing product is a new tool that enables homeowners to add more flexible square footage to their properties, a decision that is gaining significant traction. Permits for ADUs in California grew 19x from 2016 to 2023, and more states, like Colorado, Maine, Vermont and New Jersey, are considering favorable legislation in response to the housing shortage.

“ADUs are surging in popularity. People are catching on to the idea that they can adapt their homes to evolve with their lives: whether an ADU becomes a guest house, a home office, a rental property—or all those things over time. But frankly, the rapid growth we have seen will pale in comparison to the opportunity ahead,” said Joe Gebbia, Samara’s co-founder and co-founder of Airbnb. “This financing product will be a huge unlock for ADU adoption at scale. We’re opening up the opportunity for millions of homeowners in California and beyond to realize the full potential of their homes. Samara is making ADUs more accessible than ever before.”

Here’s what makes Samara’s loan program one of a kind:

  • A second mortgage with the rates of a first mortgage: Rates are as low as the market average for a first mortgage, which is significantly lower than typical second mortgages. Rates are always fixed.
  • No refinancing necessary: There’s no need to refinance a first mortgage to take advantage of Samara’s financing program.
  • A period with no payments: Customers can enjoy a period with no payments or interest before installation.
  • End-to-end loan coverage: Customers can finance up to 100% of ADU costs, including the cost of the dwelling, site preparation and closing costs.
  • Flexible terms: Loan terms range between 15 to 30 years.

“We’ve spent the last several years mastering Backyard’s design and production. Now we’re tackling financing, which has traditionally been a major challenge for homeowners who want to build ADUs,” said Mike McNamara, Samara’s co-founder and CEO. “Our new financing product is going to make it easier than ever for our customers to add living space to their properties.”

More information about Financing for Backyard can be found on Samara's website.

Samara Finance, LLC is licensed by the Department of Financial Protection and Innovation. Loans made or arranged pursuant to a California Financing Law license, number 60DBO-188555. NMLS Consumer Access # 2549049. Loans may be made by a third-party lender.

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Addy Bhasin
Samara Press Helpline

About Samara

Samara is on a mission to transform the way we live, starting with the home. The company’s first product, Backyard, is a high-quality accessory dwelling unit (ADU) that easily adds additional living space to your property. Backyard is designed to be flexible, giving homeowners more room for whatever they need—be it an in-law suite, home office, or rental unit. Samara uniquely manages Backyard from concept to completion, handling everything from product design and manufacturing to permitting, delivery, and installation.

Started by CEO Mike McNamara and Airbnb co-founder Joe Gebbia, Samara is backed by Airbnb, Thrive Capital, 8VC and other leading corporate and venture investors. The company is headquartered in Redwood City, CA and owns a manufacturing facility in Mexicali, MX.

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