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FHA announces expiration of anti-flipping waiver

Posted on December 11, 2014 by Ray Williams (NMLS #216267).

So if you are going to buy a property in 2015 and need FHA financing. Tip of the day– Check the deed to see how long the seller has owned the property. If it is less than 90 days it is not eligible for FHA financing (unless HUD home or random other exceptions). Mainly means a flipper can’t sell a home in less than 90 days if the buyer uses an FHA mortgage to get the house. Even then there are requirements up to the first year.

To read the entire notice check it out here, and if you are looking for an FHA mortgage to buy your home in 2015 holler at us and fill out an application on our website here.

Happy Holidays~ Ray

@MtgMaestro

 

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