OfflineHi everyone!FYI!I was told by a mortgage locator that the govt.now requires that you wait 90days after recieving a loan.Supposedly because of flipping,rehabbing,etc.Not that this is a lot of time but I guess it depends on the type of loan.Anyway,check it out and hopefully it will be useful info.Responses appreciated!KEEP THE FAITH!!!
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I was aware that they now require 90 day of seasoning if the buyer is using FHA loans.. They once had a loan calld the 203(K)for investors. Now its used for 1st time home buyers, and you can get up to 30k in fixup financed in to.
Here in Palm Bch. Co. Fl. the county has stimilus money for home buyers, where ou only need 1% as a down payment. But they need HUD approval of the buyer. Check and see if your county has gotten Neighborhood Revitalization funds. Thats the program. Its not for investors though. but could be just the ticket for someone who want their first home. OH and the % rate is set at 4%.