We offer mortgages on homes with NON PERMITTED ADDITIONS, nationwide. Please feel free to contact us 7 days a week at 800 315 8803 or visit us at www.bartprequalifies.com

Below are some basic guidelines that we utilize in order to write the loan:

If the non-permitted addition represents a legal use of the property under local zoning laws, the following criteria applies:
- The property must conform to the subject neighborhood and the market
- Comparable sales must include at least one property with a non-permitted addition
- The subject property complies with all investor guidelines
- The value assigned by the appraiser must be based on the contributory value of the addition, considering the quality of above -grade finished work. In some cases, no value will be given.
- The quality of the work is described in the appraisal and deemed acceptable ("workmanlike quality") by the appraiser
- The addition does not result in a change in the number of units (e.g. a 1 unit property converted to 2 units (regardless of how the appraiser classifies the property with the addition)
- If the non-permitted addition represents an illegal use of the property under local zoning law, the following criteria applies:
- The illegal use must conform to the subject neighborhood and the market
- The property must be appraised based upon its current use
- The appraisal must report that the subject property/addition represents an illegal use
- The appraisal report must demonstrate that the subject property with the addition are typical for the market by providing at least three comparable sales that have the same illegal use
- Verification that the existence of the addition will not jeopardize future hazard insurance claims is required
- The appraiser needs to state that non-permitted additions are typical for the market area and a typical buyer would consider the "unpermitted" additional square footage to be part of the overall square footage of the property.
- The appraiser needs to state that he has no reason to believe the addition would not pass inspection for a permit.
- The quality of the work is described in the appraisal and deemed acceptable ("workmanlike quality") by the appraiser
- The addition does not result in a change in the number of units (e.g. a 1 unit property converted to 2 units (regardless of how the appraiser classifies the property with the addition)
- If the non-permitted addition represents an illegal use that results in the property being illegally zoned, the property is not eligible

Again, feel free to contact us with your loan scenario at 800 315 8803 or visit us at www.bartprequalifies.com