Seller seasoning for Conventional loans - 1 day - Flip Rule Defined

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Mortgage and Lending with VanDyk Mortgage - VA, FHA, Conventional, VA Jumbo, Jumbo, Purchase Loans, & Refinance, Direct Lender NMLS 220268 / 3035

Seller seasoning for Conventional loans - 1 day - Flip Rule Defined

Our Flip Rules for Conventional Loans:  we only require that the seller own the home for 1 day prior to resale.   Essentially we have no flip rule for our conventional loans.

The Owner seasoning requirement on our Conventional Loans is one day.  That is right, one day. Why is this important you ask? Well, many lenders have begun to require that sellers own a home for 90-180 days before it is eligible for their Conventional Financing. Fannie Mae and Freddie Mac are both examples of Conventional Financing. We do not require these waiting periods.

Owner Seasoning simply means how long the current owner has owned the property.

VanDyk only requires that the seller is the owner of record on the day the contract is signed.

Click here to see the rest of this article on Conventional Flip Rule   

 

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Brian Skaar

VA, Jumbo, FHA & Conv Direct Lender (760) 752-4480
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