VA, FHA, conventional mortgage guidelines are adopted by inversion?

Deal Score0

invest in was a bit now and I started my first intentional. I heard that the waiting period of 90 days is required to sell to anyone using FHA or VA loans. Is this true? How fins to work around this problem? Conventional guidelines are not the same?
We are looking to buy our first home mortgage VA 2009. I am concerned w / Big Ole recession “ahead, so they do not change the deposit is not an advantage of this loan. Any chance this will happen? (Please answer only if you know some thing about this, or is biz). Thank you!

6 Comments
  1. Reply
    senior2tor
    February 2, 2011 at 5:03 am

    If you have a VA or an FHA mortgage then what they require you to do you must do. Few house sales close faster than that anyhow.

  2. Reply
    Gudy
    February 2, 2011 at 5:14 am

    not sure about va or fha but hud has no restrictions on flipping but you can only purchase 1 home in a 12 month period

  3. Reply
    reewyk
    February 2, 2011 at 5:26 am

    I’m dealing with this right now… the FHA loan I was going to get fell through because the seller had not owned the house more than 90 days at the time that we opened contract. So the time from when you buy it (or the seller bought it, in my case) to the time you sign a new purchase agreement has to be at least 90 days. I’m not sure if ALL FHA loan programs are this way, but mine was. Conventional would have been fine.

  4. Reply
    miss_h_kool_g
    February 2, 2011 at 5:51 am

    I am going through VA right now. No there is no frigging way that will happen. VA is a govt. run loan anyways. So the benefits are always to the veteran. Don’t worry you have the most solid loan out there. It is never going to change for the worse.

  5. Reply
    Dale H
    February 2, 2011 at 6:26 am

    There is no guarantee that they will retain the 100% option, but I think to change it at this point would be very unpopular politically.

    The FHA (which had been looking at expanding there program to 100% vs. 97%) just cut there loan to value to 96.5% for purchases and did away with the seller funded down payment assistance programs which were a mainstay for years.

    The market is still fraught with uncertainty, but I believe that the VA will maintain the 100% option. Just in case, you might want to save what you can.

    I will keep my fingers crossed. Good luck.

  6. Reply
    Iyanna A
    February 2, 2011 at 7:05 am

    VA home loans are a unique way of extending support to the US war veterans, who committed their lives in safeguarding the interests of the country. Therefore, understanding these loans is beneficial. VA housing loan program provides financial assistance to veterans so that they can purchase home at a favorable rate of interest and convenient loan terms. Loans provided by the VA are fixed interest mortgage loan that do not require any down payment. These loans are provided to all eligible veterans, regardless of their age, color, race, sex, religion, familial status, nationality or handicap.

    http://badcreditloans.awardspace.com/Easiest_Way_to_Get_a_Home_Loan_with_Bad_Credit.html

    No prepayment penalties and long amortization terms are another advantage of these loans. Houses provided under VA housing loan programs are duly inspected at the time of construction and require a warranty from the builder. The foremost step is to locate a suitable property in a safe locality. Next, the veteran has to go to a lender and apply for a home loan. VA guaranteed loans are provided by private lenders that include banks, mortgage companies and savings and loan associations. No prepayment penalties and long amortization terms are another advantage of these loans.

    Leave a reply

    Register New Account
    Reset Password