Home Buying in 92069>Question Details

Ksilvas82@ya…, Home Buyer in 92069

Can I get a conventional loan on a property with un-permitted garage conversions?

Asked by Ksilvas82@yahoo.com, 92069 Sun Jan 29, 2012

Help the community by answering this question:

Answers

3
Gil Soto’s answer
It is possible to get a loan on a home with an unpermitted garage conversion. There are lenders that will finance it at competitive rates. It will depend on how the appraiser addresses the improvements. Were they done to code and in a workmanlike manner? The apprasier may not give you credit for added value of the improvements so as long you do not need a higher appraisal to finance the home, I am your man.
Gil Soto
Loan Officer
San Diego Financial
760-672-9407
0 votes Thank Flag Link Thu Feb 2, 2012
Well I got one though once. A week later the city showed up and made the buyers tear it out.
0 votes Thank Flag Link Fri May 10, 2013
No since you cannot close without title insurance. No title company will insure unpermitted garage conversions.
0 votes Thank Flag Link Sun Jan 29, 2012
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer