Structural Changes to House w/ Mortgage

larry79 wrote: ↑ I bought a house and completely gutted it, right down to the studs. A mortgage shouldn't be a problem as long as you remember that the bank will only value the house as the condition it is now. I found insurance to be more of a hassle. I paid cash for the place I bought so I was in a bit of a different position but I remember that every step of the way, I needed to update insurance and send along pictures of all improvements. They required me to provide copies of all permits and inspections.
nx6288 is correct about habitable but occupancy is a bit more complicated. When the building inspector came to do final inspection for us, to grant occupancy, he wouldn't sign off. The spacing of the pickets on the staircase were not up to code and were spaced 1/8th of an inch too far apart. Also there was not a high enough railing on my front porch, it was 1 and 1/4 inch too short. The town made my family move out of the house these things were up to code.
You are not allowed to live in a house being completely gutted until electric inspector and building inspectors sign off on occupancy.

deepzerg wrote: ↑ Hi, I've googled around but can't seem to find an answer. I feel the experts here can easily answer this.

I want to buy a gutter house, and make structural changes (e.g., remove load bearing walls, dig up basement; obviously w/ city permits). However, can you do this construction w/ a conventional mortgage attached to it? I will find the purchase of the house w/ a conventional mortgage, and then fund the construction myself (e.g., no need for loan on the actual construction).

Thanks!

deepzerg wrote: ↑ I want to buy a gutter house

Furcorn wrote: ↑ What is a "gutter house"?