by Steven Kitnick | Jul 21, 2017 | FHA, HUD
A property that is being resold 90 Days or less following the seller’s date of acquisition is not eligible for an FHA insured loan. The Rule went in and out of effect over the years. According to Rey Gallegos, Nevada State Manager & Mortgage Loan Originator...
by Steven Kitnick | Jul 21, 2017 | Appraisal, HUD, VA
VA Appraisals stay with the property similar to FHA appraisals, but for a period of 180 days. If a Buyer is using a loan other than a VA loan to purchase the property, then a new appraisal will be ordered on a new transaction.
by Steven Kitnick | Jul 21, 2017 | Appraisal, HUD
I contacted Rey Gallegos, Nevada State Manager and Mortgage Loan Originator (NMLS # 557038) with HomeBridge Financial Services to get an answer to this question. Here it is! “When a property purchase transaction occurs where an FHA loan is being used to buy...