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FHA Loans• A property is eligible if resold between 91 and 180 days
after purchase and§ new contract must be dated at least 91 days from current
owner/seller aquistion date§ a 2nd appraisal is obtained if the resale price is 100% or
greater than price paid by seller§ if a 2nd appraisal is obtained and more than 5% lower than
thevalueofthefirstappraisal(lowervaluemustbeused)§ the borrower does not pay for 2nd appraisal
• A property is not eligible if resold 90 days or less aftercurrent owner/seller aquistion date
• Exceptions§ Investor is an employer or relocation company
purchasing a property to relocate an employee§ Resale of HUD Real Estate Owned properties§ Property is acquired through inheritance§ Sales by other government agencies or builders
selling a new home§ Salesofnon-profitagenciesapprovedtopurchase
HUD properties§ Sales of properties by federally chartered instituitons or GSEs§ Sales of properties in federally declared disaster areas
VA Loans• No Rules for Property Flipping (Additional underwriting
guidelines may apply at lender’s discretion)
USDA Loans• If a property’s value increases substantially between the
previous sale and new purchase, a lender is responsiblefor ensuring the property’s value is strong supported
• A property’s appraisal value must be supported withvalidated comps from the lenderto protect the borrower frompredatory lending
Fannie Mae• No Rules for Property Flipping
(Additional underwritingguidelines may apply atlender’s discretion)
Freddie Mac• No Rules for Property Flipping
(Additional underwritingguidelines may apply at lender’s discretion)
HOUSE FLIPPING GUIDELINES
Lender must obtain a 12-month chain of title to document time restrictions above. Guidelines are subject to change without notice and are neither a loan commitment nor a guarantee.
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