Friday, May 30, 2014
What Kind of Foundations Do We Run Across with the FHA 203k Loan?
By Mike Young
Concrete perimeter foundations are typically what we find and want to find. This foundation type will typically have additional pier and posts throughout the center of the structure.
Pier and post foundation system was a typical foundation type in the past... still acceptable provided they are common for the area. We would always prefer to see this have a concrete perimeter foundation. We added a perimeter foundation on this home during the renovation process.
Grade beam foundations are typically used to replace the pier and posts under the home and in conjunction with a concrete perimeter foundation. We have seen grade beams that merely consist of three grade beams which allowed the water at high tide to flow freely up under the home and out freely at low tide and without restriction that a perimeter foundation might cause.
Concrete slab foundations are also common in CA and NV. This one has settled quite a bit and was leveled using "push piers" and a foam filler.
Anything is fixable with the FHA 203k
Posted by 203konline