Are there any circumstances or loopholes that I can use to 203k loan to put in a swimming pool?
Dave Metsker (DaveMetsker)
#35 ranked lender in Oregon - 2,318 contributions
Sorry, it is considered a "luxury".
Jeff Albrecht (Doctor_Mortgage)
#92 ranked lender in Texas - 77 contributions
A lot of people that believe that they need to do the 203k, actually qualify to do an escrow holdback to have a swimming pool added. click on my name ot the left, and then click on my email address and let's chat. Thanks...Jeff
Peter Savino (855411LEND)
#99 ranked lender in New Jersey - 332 contributions
No there are no loopholes, pools are not allowed
Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,848 contributions
Nope... Specifically noted in the 203k rules that a pool is NOT allowed. www.Joemetzler.com/fhaloans.htm
Charlie Sparks (CharlieSparks)
#8 ranked lender in New Mexico - 401 contributions
For an EXISTING swimming pool, $1,500 can be used towards its repair. Otherwise the 203k specifically excludes swimming pools as an improvement.
Raymond Denton (Raymond)
#10 ranked lender in Ohio - 224 contributions
No, not to put one in - only to repair an existing pool.
Carlos Figueira (carlosfigueira)
#107 ranked lender in New Jersey - 199 contributions
As others stated, no loopholes etc.
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