Download the PowerSaver Buyer's Guide

Do you want to make energy efficient upgrades to your house to save on your monthly utility bills? You could even get closing costs paid (an average of about $2,000) on the mortgage!

The PowerSaver Grant from FHA can help home buyers and homeowners make eligible energy-efficient upgrades to a house, and qualify for closing costs to get paid by AmeriFirst Home Mortgage. This buyer's guide walks you through the process, so you can decide whether the PowerSave Grant is right for you

Download the PowerSaver Buyer's Guide

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Can I Finance Pool Construction with the FHA 203k?

 

fha 203k poolWith so many homes on the market today in need of improvements, upgrades, repairs or renovations a lot of folks are coming to know the FHA 203k to finance home improvements. In fact, the 203k can cover so many projects, it may seem like it covers everything. We recently had a question on eligible projects come in from a Realtor in California via Facebook.

Hello, I'm a Realtor in CA and I had a new prospect ask if you can use a FHA 203k to build a pool. I didn't know the answer. Can it be used for that?

Joe DalyUnfortunately no. FHA doesn't allow any "luxury" items to be rolled into the cost of repairs or improvements on a 203k loan. You can although roll up to $1,500.00 into the mortgage for repairs to an existing INGROUND pool on both the Streamline and Standard 203k.

With that said, you can fill in an unwanted pool if it's a health and safety issue. The FHA 203k does cover that kind of project. You can also fix a driveway with the 203k. There's a lot you can finance with this home renovation loan. Check out the list below, covering eveything from roof repair or replacement to disability access.

FHA 203k home renovation projects

Learn all about the projects you can finance with "The Complete Guide to Spring Home Improvement Financing" at the button below. Whether it's a new home to you (but it's old and needs work) or it's your current home that needs an upgrade, the FHA 203k is one option for financing all kinds of home improvements and renovations. Click the button below to download your free copy of this guide.

plan-your-spring-home-improvements

(pool: Flickr user Joe Shlabotnik)

Comments

If you want to build a pool. you can do this with a HomeStyle Loan. There are no restrictions using this program. This is the FNMA "knockoff" to the FHA 203k loan.
Posted @ Friday, May 18, 2012 8:43 PM by Cedric Johnson
Great post about build a pool and very informative.
Posted @ Thursday, June 26, 2014 3:39 AM by Dump Truck Training Melbourne
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