Loan Seasoning - Posted by jr investor

Posted by Brandon on October 18, 2005 at 05:40:38:

I’m sorry, but the advantages that a VA or FHA loan offer surely don’t outweigh the fact that you are giving the buyer a good deal. Show him some comps to prove what the home is worth and convince him to go to a mortgage broker. While I’m on the VA subject, have you ever been in a VA hospital? As sad as those are I can’t believe that a VA loan is really a great thing. There are probably much better deals out there with so much money floating around these days.

Loan Seasoning - Posted by jr investor

Posted by jr investor on October 17, 2005 at 21:39:13:

I recently bought a house as the result of a short sale. I had to close fast so I used my business equity line of credit to purchase it. I am going to resell it straight away and it is in an area that is very military based. I was told that I would not be able to sell to military using VA FHA loans due to seasoning - there needs to be at least 6 months between my purchase and the VA/FHA buyers purchase. Is this true? Are there ways around this?? Its a fabulous deal I have a 40k margain that I’m happy to share with the new buyer. They will be getting a great deat and it should appraise well.

Thank you

Re: Loan Seasoning - Posted by Walt

Posted by Walt on October 18, 2005 at 18:46:06:

FHA only requires 3 months seasoning unless your selling price is more that doubling your purchase price. And if you are doubling the price you can et two appraisals and get it through. I’m, not sure that VA has ever articulated a title seasoning policy.

Re: Loan Seasoning - Posted by ZACH

Posted by ZACH on October 18, 2005 at 02:55:53:

For a VA FHA I know there has to be at least 6months to a yr to refi, but I don’t believe so for a purchase.

Re: Loan Seasoning - Posted by rdlazo

Posted by rdlazo on October 18, 2005 at 01:12:20:

There are lenders out there that do loan without
seasoning. Ask an experienced broker.
I know a lender in Calif that can do it.