Financing a Flipped Home

 

WJB Continues to Offer FHA Flip Waiver
 
The Federal Housing Authority recently renewed waived requirement that homes must be owned by a seller for at least 90 days prior to reselling in order to qualify for FHA mortgage insurance. This waiver makes it much easier for buyers like you to use FHA loan programs to purchase HUD-owned and bank-owned properties as well as privately sold properties that have been held for less than 90 days.
 
While many other lenders no longer offer financing for these homes, WJB continues to do so in order to best meet your needs!
 
Please note certain restrictions do apply to these loans, including:
  • All transactions must be arm’s-length.
  • If the sales price of the property is 20% or more over the seller’s acquisition cost, justification must be made for the increase in value. Two appraisals and a home inspection are required.
  • Repairs or renovations must have been done to the home by the current seller to account for the increase in sales price.
 
At WJB we remain committed to helping you obtain home financing that meets your particular needs.
 
Contact me today to learn more!

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