Fix & Flip Financing

[Greg C.]

Have a question about a fix and flip

The home I am looking at was bought for $375k and flipped and I am now purchasing for $603k

I am looking for financing on a jumbo 30 year conventional (no ARM!) with 10% down and no PMI. Is it possible to do this with no PMI? If so, does anyone have rates under 5% without paying discount points?

Am I asking for the impossible because of the fix and flip status?

[Jeff Lezark]

If the purchase is arm's length between you and the seller, the F&F status has nothing to do with financing the purchase. The issue will be finding a conventional lender willing to meet your terms.