It's hard to get the loans from most lenders

来源: CALoanAgent 于 2009-06-09 22:53:02 [] [博客] [旧帖] [给我悄悄话] 阅读数 : (515 bytes)
回答: How long have the seller owned the property? 由 CaLoanAgent 于 2009-06-09 22:19:02

1)FHA has 90 days "Flip guideline". Though you don't need FHA loan, most lenders don't approve the loans to you if the seller on the title for less than 90 days.

2)It's hard to justify the value unless the seller purchase price is similar to yours. The lender will ask why the previous owner purchased that low, and what improvement they did within two weeks to sell for the higher price . So the appraisal may not pass.

So if you really like the house, the cash offer will save you some trouble.

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