Can I replace the foundation with a 203k loan?

Home Inspector with, covering the USA S0289

Can I replace the foundation with a 203k loan?

I have a 203K client that is starting the project from the foundation (pier and beam).  During the estimate development process, the contractor selected is recommending replacement of all piers is that okay to replace all piers and still remain compliant with 203K rules?

Yes, it is. You can repair or replace a foundation with the FHA 203k and the HomeStyle Renovation Mortgage Product. This gives you options. We start with homes that have faulty or no foundations all the time. There were many homes that were built with poles that were placed in the ground and then they ran joists between the poles and built thse house up from there. We have seen rock or stone foundations that were in pristine condition and concrete perimeter foundations that have failed.

Rest assured the FHA 203k program can come to your rescue. 


This home had a foundation that you could actually grab a hand full and it would fall apart in your hand. The contractor was a bit older and didn't like bending over so much so he raised the house a little higher so he didn't have to bend over to work on it.

We are working on one in Nevada City right now that was built pre-1850 and doesn't have a foundation. We are planning to install a new foundation on this old home.

We did one in San Rafael some time ago where it was a 104 year old home that hadn't ever had a foundation, just posts planted in the ground like fence posts might be today.






Posted by

Mike Young, 203k Team Leader    Mike ready for your 203k order

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Comments (1)

Dave Halpern
Dave Halpern Real Estate Agent, Inc., Louisville, KY (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

The 203k loan is an under-utilized tool. Many buyers could create equity by using the FHA/203k loan to buy and renovate homes that need some work.

Aug 12, 2017 08:02 AM