This is a great question! People often wonder what can and can not be done with their Reno Funds when using an FHA 203k Reno loan or other types of Reno Loans. To answer this question is relatively easy.

The answer, NO. BUT, the list of options on the Can't List is relatively short. Let me Explain:

Money must be used on the house and its renovations. The main thing to remember is that you can do almost anything you want as long as the appraisal provides enough funding. Without an appraisal top justify adding the reno to the home, nothing can be done. We can do some calculation on that next time.