Improving on a home...

Profile picture for qbraid
I'm getting ready to purchase a home and want to improve the backyard and put a pool in it.  If I wanted to do this, is there any way that I can roll this into the mortgage?  Or would I have to get separate financing for this?  I would be using an FHA Loan.
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February 25 2010 - Empire
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Profile picture for qbraid
Thanks Pat.  The pre-qual has already been done, and the lender does handle FHA and 203k.  I think your last comment answered my question.
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February 25 2010
Profile picture for Pat Pribisko
The first thing you need to do is to talk to a lender to obtain a Pre-Approval, to determine the terms available & the  $ amount of mortgage for which you qualify.  Make sure you are working with a lender that does FHA Loans AND 203(k) rehab loans, if you need to rehab the home.  I highly doubt a pool & backyard is in your future with a 203(k) rehab loan, as those items are not at all a necessity.
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February 25 2010
 

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QuestionImproving on a home...
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