That's good to know. I should also point out that zoning changes must be made BEFORE the loan can close.
-Inspector Mike Savage
A question or answer below...
Actually a garage warehouse has been renovated under the 203k program... we did one. What you have to do is 'ask HUD' to waive that rule if you have one that fits the mold otherwise and is located where a home makes more sense than a warehouse due to the properties that have grown up around it. HUD makes the rules and can modify them when it is for the public good. NOT always however. It is a case by case and you need to present the case well.
To be eligible, the property must be a one- to four-family dwelling that has been completed for at least one year. The number of units on the site must be acceptable according to the provisions of local zoning requirements. All newly constructed units must be attached to the existing dwelling.
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