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

Asked by Keith Silvas, Vista, CA Sun Jan 29, 2012

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Fri May 10, 2013
Well I got one though once. A week later the city showed up and made the buyers tear it out.
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Gil Soto, Agent, Carlsbad, CA
Thu Feb 2, 2012
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
0 votes
Annette Levi…, , New York, NY
Sun Jan 29, 2012
No since you cannot close without title insurance. No title company will insure unpermitted garage conversions.
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