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Updated over 8 years ago,
Conventional loan HOUSE requirements?
Hello all!
I was hoping someone could help me track down the requirements for the house (not the buyer) for a conventional loan? I am looking into my 4th investment property now and I am interested in doing a long term flip. By that I mean, I would like to purchase a foreclosure or single family home that needs work and live in it while flipping it over a period of 6-8 months or so.
My current lender that I use seems to have no interest in helping with such a deal and will not point me in the right direction. I plan on using my own cash for down-payment and for repairs, my question is, what are the requirements for the HOUSE to be financed with a conventional mortgage?
Any input or pointing towards the right general direction would be greatly appreciated!! Thank you!