Florida Mortgage : Learning Center

Florida home prices are at extreme lows, especially when they are banked owned. Our Florida real estate market is the place to be if you are considering to purchase a nice home to add to your investment home portfolio or to simply fix up, beautify and sell.    It’s better known as flipping.  Sellers do favor investors with cash to expedite closings in very little time.  However, sellers should beware of FL mortgage flipping guidelines when home buyers are obtaining Fannie Mae or Freddie Mac low interest rate loans.

Many Lenders and banks don’t lend residential mortgage funds, when flipping is involved.  Some have seasoning rules (time the current owner need to have been on the title or deed) up to 6 months!  Other lenders provide opportunities to purchase with a new Fannie Mae loan after 90 days of seasoning has passed.  There are Lenders willing to assist when home buyers are purchasing flipped homes.

Interestingly enough, we have found one bank in Florida that doesn’t have a flipping obstacle to overcome, at all!  Please make sure that all parties involved in helping a new home owner to-be into their FL dream home – know that the seller is in fact flipping the home; as to avoid any unforeseen delays or denials.

For more information on FL home mortgages including FNMA, FHLMC or VA home loans, please feel free to contact me directly at 407-733-6425. or info@beechtreemortgage.com.