Can I use the 203k to fix up my manufactured home?
Upgrading a manufactured or factory built home is possible not just stick built homes. Keep it in mind. We are doing two right now and they are coming together rather nicely. Keep the foundation in tact and you should be fine.
This opens up a great many more homes for rehab and the 203k. Keep thinking outside the box.
How about a stick built home that is partially finished but 18 months old? Never been lived in? Does it fit the guidline for the 203k... NO because it hasn't had a certificate of occupancy.
Now, can you do it? Yes, likley. There is a procedure to get these done. If you have some properties like this let me know and I'll walk you through the process. Now, is there any other way to get them done outside the FHA 203k, absolutely if you use the Fannie Mae Sister product to the 203k, this is the HomeStyle Renovation loan which allows the completion of a home that was never finished.
It also allows a swimming pool to be built.
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