Can I finance a remodel through my mortgage?

[Brandon Hunsaker]

I have a house under contract with a walk out basement that I want to make into a studio apartment for a house hack. Does anyone know of anyway that I can finance the remodel using either a conventional or FHA mortgage?

[Upen Patel]

@Brandon Hunsaker Before you go into this, make sure that you can legally convert the SFH into a duplex, because that's what you are proposing. If it all makes sense, then you have two options - FHA 203(k) and Fannie HomeStyle Renovation. Both are available for owner occupied rehab properties. Fannie is the better version as it's easier to work with and will allow you to do things that FHA will not.