Conventional Loan: Should I be honest?

[Ryan Clevenger]

I've started the process of talking to brokers about getting a conventional loan(preferably FHA) to do my first flip and I'm straight up with them by telling them I attend to flip the house as soon as possible. A couple brokers have told me they don't do conventional loans on flips and refer me to one of their commercial mortgage brokers but I don't want to do a commercial loan because of the higher down payment. So do I act like I attend to live in the home for several years so I can get the loan or do I keep on looking for a lender that will work with me? I don't want to lie because I'm looking to build relationships so I can continue to do this far into the future. What are my options? And thanks to anyone that takes time to read this and reply! Anything helps

[Cassi Justiz]

FHA loans are intended for owner occupants. Mortgage fraud is something that can get you into a lot of trouble. It's not worth trying to get around that.

I would go to a private lender to get the loan for your flip. If you network with your local investor groups you should be able to find someone that is reputable in your community that does private lending. 

If you want to "flip" a house with a conventional loan, you will probably need to do a live-in flip and stay there for a few years before selling it.