FHA anti-flipping rule extended through 2014!

The Federal Housing Administration (FHA) announced it will extend their flipping rules through 2014.  This anti-flipping regulation, which had prevented the agency from insuring mortgages on properties sold within 90 days of acquisition, has been extended through 2014.  The waiver, first implemented in 2010 to bolster the flagging housing market, is intended to enable investors to buy and quickly rehab properties as the market continues to struggle.

Investor owned rehabs provide a unique opportunity for potential buyers to purchase newly remodeled homes utilizing FHA’s low down payment programs for as little as 3.5% down, or in some instances 0.5% down.  For more information on our down payment assistance options, click here.

 

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