Can you move a home from another site using the FHA 203k loan?
By Mike Young, FHA 203k Consultant 916-758-1809
(203kOnLine.com, covering the USA)
Can you move a home from another site using the FHA 203k loan?I've always found it interesting to see a home going down the street on it's way to another site, just waiting for someone to throw out some dish water out the back door... lol , not reallyIn the case of moving a home from one site to another several things must be present to qualify for a 203k loan.1) The house being move must be on it's original foundation. It cannot have been moved already to a storage sit while awaiting a lot to move it to.2) HUD engineering must observe the home on the present site prior to the move and at the new location once sit & bolted on the new foundation.3) The mover's insurance must cover the home during the move. Looking at the contract this mover has it suggests the borrower is responsible for...