+1 vote
Were wanting to build additional big garage on a remodeled home, since its a single garage. 30x50 garage can you do a 203k standard loan to purchase the house
asked Nov 30, 2017 in Conventional Loans by Norm

1 Answer

+1 vote
Here is what HUD says in their training materials:
Eligible Home Improvements
The Section 203(k) loan covers a range of home
improvements. These include, but are not limited to, the
following:
• Remodeling bathrooms or a kitchen, including new
built-in appliances
• Replacing a roof, gutters, and downspouts
• Adding a family room, bedrooms, or bathrooms
• Replacing flooring, tiling, or carpeting
• Completing a basement or attic conversion or adding a
second story
• EXPANDING OR BUILDING AN EXISTING GARAGE OR CARPORT
• Renovating a deteriorating property, such as repairing a
chimney, termite damage, or structural problems
• Upgrading plumbing, heating, air conditioning, or electrical
wiring
• Eliminating health and safety hazards, such as removing
lead-based paint
• Making the home accessible to the disabled
• Installing a well or a septic system
• Adding a porch, deck, or patio
• Adding or repairing siding or repainting
• Installing energy efficient windows or doors
• Repairing an existing swimming pool

You can't do luxury things like adding swimming pools, gazebos or tennis courts. But a garage, especially in some parts of the country, is not exactly a luxury.
answered Dec 1, 2017 by GinaPogol (47,650 points)

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