There is no seasoning rule for conventional loans. Some lenders however are making up their own rules and not financing 90 day flips,you just need to work with a lender that doesnt make this an issue, we for instance can finance flips with conventional loans no problem, but I know certain lenders wont.
interesting . Thanks. I wonder if it's on VA and Conventional or just FHA getting mixed answers on that. But the binding agreement info is VERY helpful. We were trying to figure out the dates on that.
I am not sure what everyone else is hearing, Natalie, but the 90 day rule has been in effect for at least this entire year, excluding REO lender to lender business and lender to FDIC transactions. And by the way, it's 90 days from investor closing to the binding agreement date for buyer.
sure. FHA's 90 day seasoning rule for investors(must own property 90 days before allowing a borrower to buy using FHA mortgage). Some lenders in Augusta have said that a new rule is here or is coming that VA an conventional financing is going to require investors to own property for 90 days before allowing a purchasing to finance. Others lenders have said they don't know about this. Just wondering what everyone else is hearing.