what type of loan can be used to purchase a home that has only been owned by current owner for 2 months

90 days is the typical waiting period. After that point however you can use virtually any loan product that you qualify for.

You should have no issues.. in general, if the home was purchased as an investment, and the investor is now trying to sell it to you, then if he's marking it up more than 120% of his acquisition cost, you would need to comply to several guidelines to get financing, but it's doable.. once your past 90 days, and the purchase price is less than 200% of the original acquisition, then you should be ok no matter which loan product you use.. .. 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. 480-287-5714 WilliamAcres.com

RCBresnick.... Your most likely need to wait 90 days before a loan can be qualified for the property. Especially if the seller is selling the property at 120% of the original purchase price. Its already been 2 months.....get your paperwork in and before you know it, it will be 3 months. Are you already working with a lender? I lend in California. 949-529-5521 David Sanders. david@crossroadsfunding.com BRE: 01930045 NMLS 1052080

Hello, It all depends on the scenario and what the current owner purchased the home for and what he is selling it for? Give me a call and I can answer any questions on this as I need to know the full story before I can recommend any type of loan. It also depends the person who is purchasing the home, but, generally it can be FHA with 3.50% down or Fannie Mae with as little as 5% down. Cindy MacDonell Bay Equity Home Loans 707-583-8117 or cmacdonell@bayeq.com

Speak with your local loan officer. You may have to have higher scores to qualify for a 90 day flip. Best of luck, Kim Lawson (Licensed in Ohio only) Contact and licensing information can be found on my profile.

Generally speaking, the home really needs to be owned by the current owner at least 90-days at the time the purchase agreement is signed. Once 90-days has passed, you can pretty much use any loan you qualify for to buy the home.

If the sales price is more than 120% of the seller's purchase price, and no significant repairs or upgrades have been done, you may have to wait for up to 90 days for FHA or conventional loan closing.

Yes. If over 120% of original purchase price, two things might demonstrate value is appropriate. One is showing proof of the work that increased the value,and the other is simply having two appraisals to make sure the increased value seems legitimate.