Updated about 2 years ago on . Most recent reply
Workaround for 3% down payment
We are selling a home to a buyer who has qualified for the loan (FHA) but doesn't have the required 3% down payment.
Apparently the only work around is that they have a gift of the 3% from a family member to then close.
The buyer can’t go conventional 0% down given that it’s a flip and we haven’t owned the property for 90 days. We’ve owned it for 4 days.
Aside from waiting the 90 days so they can do conventional, are there any workarounds?