Would it be best to go with an ARM loan and are there legalities against flipping homes? I would be comfortable renting the home for a year before selling. Thank You by bigrob34bobby.tip... from Victorville, California. Dec 12th 2013
As long as you meet all requirements in purchasing the home and for the home loan, there is no reason you can not flip the home as soon as your are ready todo so. If you are going to sell the house as soon as a year after purchasing ityou will want to compare the lowest rates and prices for an ARM. It is a questionof qualifying for the ARM you choose.As a national mortgage bank we do have excellent offerings on ARMS and a varietyof investment purchase loans.
Depending on what type of financing you are qualified for, there are different seasoning requirements. Feel free to contact me for more information. Jimmy Vu - American Financial Network - 949.287.4134 - jvu@afncorp.com
There are no requirements for how long you keep the home. You need to qualify and have an appropriate down payment for an investment property. Arms may be an option, but for some programs will not be available on investment properties so you will want to make sure you deal with a lender that offers many options and will lay them out for you. 20 years experience in the industry. I am always happy to assist so if you need more information, a pre-qualification, or a competing rate quote you can go to my web page and use my live support button to discuss or get advice on anything at all with me. Web Address is: http://www.loansfromrob.com/quote/ Email is rhanson@gladewaternational.com and direct phone is 240-752-7549. Good Luck -- Rob Hanson
as soon as you can sell it, but I will tell you why some people say you have to wait for one year. assuming you are buying a property today for $100, and you want to sell it next month for $105, the appraiser cannot give you that value, and the bank will reject the buyer's application. So in order to be comfortable with the appraised value,, you either have to make a major repairs or have to wait for one year in order to get a higher appraised value, so you can sell it for more.
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