Three Things You Should Know About Buying Flip Homes!

Dated: 08/15/2018

Views: 38

Consdering buying a fixer upper as a fix and flip? Here are a few things you may want to know.

1. Property flips may be eligible on various loan types.

2. Effective 12/31/2014 FHA Waiver for FHA “Flips” expired, therefore FHA will not allow financing on a “Flip” property within 90 days of purchase. If the sale is within 91-180 days from the last sale, and the sales price is more than 100% of the last sales price, then two appraisals are required.

3. Jumbo lenders don’t have any specific guidelines for flips, but they will scrutinize values more. It’s not uncommon for lenders to lend less on high-end flips.

Blog author image

Karyn Finnell

A Southern California native, I came to Prescott by way of Massachusetts where I lived with my husband and children for many years. I have happily lived in Prescott for over 11 years now and am I prou....

Latest Blog Posts

I Love Prescott Events

One of my favorite things about Prescott is that no matter the season, there is always something going on downtown on the Courthouse Square. The city of Prescott has so many fun events to offer for

Read More

Three Things You Should Know About Buying Flip Homes!

Consdering buying a fixer upper as a fix and flip? Here are a few things you may want to know.1. Property flips may be eligible on various loan types.2. Effective 12/31/2014 FHA Waiver for 

Read More

Country Livin' at it's best!

Looking for a little piece of heaven out in the country? Take a look at our top 5 favorite picks!Looking for a little piece of heaven out in the country?  975 E Armetta DriveCamp Verde,

Read More

Got Horses?

If you're looking to get away from the hustle of the city life and enjoy the peace and quiet under a blanket of stars at night, you don't have to travel farther than Camp Verde!Located just 86 miles

Read More