i have a 1 yr. old fha loan and would like to get a fha 203k loan to build a detached garage in my back yard.

Hello. As long as you have atleast $5,000 in improvments, you would be a candidate for an FHA 203k loan. We are Direct Lenders and specialize in FHA and 203k rehab loans. Please email me so that I may begin your approval. adennie@fmbranch.com. Thanks.

we only do commercial loans $500k and above, sorry we are not able to help

we only do commercial loans $500k and above sorry we can not help

Since this will most likely cost the minimum $5000 in repairs required for the loan, the next concern would be if you have, or will have, enough value in the home to complete your improvements. You may be able to borrow up to 110% of your after-improved value; just remember that you don't usually get a dollar for dollar increase in your value for improvements.