203k for pool
im thinking about buying a home and getting a standard fha 0203k loan. would installing a pool qualify as an eligible repair for this program? i know it doesnt qualify for the streamline version but i wasnt sure about the standard 203k by EValme_952_200 from Temecula, California. Aug 8th 2012
Bert Carpenter (BertCarpenter)
#37 ranked lender in Arizona - 2,431 contributions
NO. Pools installations or renovations are expressly prohibited. It may be possible to include minor repair costs to get an existing pool running again, but no new pools. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com 888-889-9950
William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions
If the home already has a pool, you can designate up to $2500 to "Repair" the existing pool, but you cannot install a pool using 203K... I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com
Joel Lobb (kentuckyloan)
#3 ranked lender in Kentucky - 192 contributions
A pool is not allowed on the 203k. Sorry.
Peter Botros (PeterBotros)
#70 ranked lender in New York - 895 contributions
Existing pools can be repaired however, you cannot install a new pool.
Michelle Curtis Loan Originator NMLS 401173 (MichelleCurtisLO)
#77 ranked lender in Florida - 2,245 contributions
No for a new pool.
Jesse Olson (jesseolson)
#657 ranked lender in California - 37 contributions
Hello, Unfortunately you can not use it to install a new pool. Please let me know if you have any other questions at jolson@afnmortgagelenders.com or 949.491.8607, thank you.
Ask our community a question.
Get an answer
Related Questions
