Updated over 7 years ago on . Most recent reply
FHA minimum hold time
Is anyone spun up on FHA minimum hold guidelines? We bought a flip January 17th and finished it and put it on the market last month. I accepted a contract on the home this weekend and it was for an FHA loan. Didn't cross my mind until this morning that I remember something about a required ownership period of at least 91 days prior to selling or accepting a contract. As is right now we will close before the 91st day (April 10th). Any mortgage brokers that can give me some advice on the topic would be appreciated.
I've got the buyers lender looking into it and my mortgage broker looking into it but no answers as of yet...