FHA Flip Rules Update!
This post features an update on the flip rules pertaining to FHA insured mortgages. Since FHA insured mortgages make up about 80% of the loans in Georgia nowadays, this information is good for buyers and particularly real estate investors. Flipping is still alive and still pretty risky. Not for the novice real estate investor.
2. Home inspection is required on all flips (all repairs called out by appraiser must be fixed by seller prior to funding)
3. Health & Safety repairs (Any noted on inspection report repaired by funding)
4. All transactions must be arms-length (NO identity of interest between parties)
5. A minimum 12-month chain of title required (can't be flipped twice in 12 months)
Manny Alfelor / Mortgage Banker / San Diego / BluFi Lending / (619) 972-3209
Comments (4)Subscribe to CommentsComment