If your house is like every other, there’s something that wants repaired or refinished. The way it works: To qualify for a 203(ok) mortgage, homeowners have to offer a bid from an authorized contractor to make the upgrades they want with their loan paperwork. An appraiser reviews the house and the submitted bid, and appraises the estimated worth of the house postrenovation. That appraisal should be in line with native comps —if it isn’t, you might be required to cut back the reno you are proposing.
Home Improvements That Add The Most Value