Can I build a barn with the FHA 203k loan?
By Mike Young, FHA 203k Consultant 916-758-1809 cell direct
(203kOnLine.com, covering the USA)
Can I build a barn with the FHA 203k loan?Sometimes it isn't what you say, it is how you say it. In fact allot of times it isn't so much what you say it is how you say it.Building a barn would be considered a luxury item by most underwriters and we all know that luxury items are NOT allowed under the FHA 203k program. But let's analyze this. What is allowed is a garage. Even a large garage. Can you write up your new "garage" so it can suffice as a barn?The issue that is really at hand is do you already have a garage? You can build a detached garage, if it had a larger center section for your RV and a smaller car garage on each side for a 3-car garage, why couldn't you make it look like a barn? We did. We lucked out and there wasn't a garage on this horse property. It turned out well. A...
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