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How long do you have to have a FHA property before you can resell?

by rlwarren89474 from Reserve, New Mexico. Jun 26th 2015 Reply


William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,927 contributions

There is no mandatory time limit as to when you can sell your home, however if you purchased it recently with the intent to fix it up and flip it, then if you try to use FHA for the next home, the underwriter could question your intent.. they will know what you purchased, how much you paid for it, and what you sold it for, and how long it took to sell.. if they think your doing an end run around "Investor purchasing" which typically requires 20% or more down and higher interest rates, then they could deny you on the next one.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Jun 26th 2015
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Leonard Ujkic (leonard.ujkic)
#128 ranked lender in Texas - 7 contributions

You can sell right after closing. There is no waiting period. Call meYours in success,Leonard UjkicBranch Manager - Irving TXDirect Phone: 214-432-9047Cell: 214-557-4505Fax: 855-338-5625Individual NMLS: 320736Branch NMLS: 1219148Email: leonard@nlcloans.com Nations Lending Corporation NMLS# 324161300 W Walnut Hill Lane, Suite 256, Irving, TX 75038 Terms of Use | Privacy Policy | State Disclosure Requirements

Jun 26th 2015
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Derick Condron (rightstartoregon)
#32 ranked lender in Oregon - 597 contributions

There is no time frame for selling the property.

Jun 26th 2015
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Pete Bass (PeteBass)
#31 ranked lender in Connecticut - 476 contributions

There is no pre payment penalty on FHA loans - you can resell your property anytime- Be aware that if you have purchased the property within the last 6 months,did repairs and renovations and are trying to "flip" the property and then take out another FHA loan, the underwriter may question your intent to live in the property as you primary residence. For more information e-mail me at pete.bass@everbank.com

Jun 27th 2015
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Lorne Harvey (lorneharvey)
#81 ranked lender in Washington - 418 contributions

Not that this would necessarily matter to you as a borrower, the lender may be charged back for an "early payoff" from their investor. Typically this period is about 210 days the investor must hold the loan in order for the originating lender to avoid being charged this fee.If I can help, just let me know.Thank you

Jun 27th 2015
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Mike Silkworth (msilkw_195_870)
#30 ranked lender in Michigan - 519 contributions

Right away - no rule against it. It may make it harder to get FHA financing again for the next 12 months however.

Jun 29th 2015
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,524 contributions

There are no pre-payment penalties or any other restrictions to selling a home financed with a standard FHA loan. You can do it anytime you desire.

Jun 30th 2015
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JOE GARRETT (www.Texaslowcostmortgage.com)
#46 ranked lender in Texas - 18 contributions

There isn't a mandatory waiting period.

Jul 15th 2015
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