FHA Loans Factor In What My Profits Are When Loaning To A Buyer?

[Jen Hebda]

I just got a call from my realtor that said we have a buyer for one of our properties in Illinois that is looking to make an offer, but said they are hesitant because they feel they will have problems with the FHA lender due to our profits on it. We bought the home on June 10th, 2018 on an off-market deal for $80k, then re-listed on June 13th for $150k. The buyer is saying the lender will question why the home is being sold so quickly after purchase for so much more. Is this a legit FHA concern? Would they ever be looking at that to decide if they can loan out to a buyer for our house because of that?

[Wayne Brooks]

It’s quite simple.....an fha buyer can not get a loan if they sign a contract with you within 90 days of your purchase, regardless of how much the price increased, period. The agent(s) aren’t too bright.