Academy Mortgage can do loans for properties whose last purchase was less than 90 days ago. Many lenders have eliminated their program(s) that allow a buyer to purchase a home that has been owned by the current ownerfor less than 90 days. If you are the seller of one of these properties you will want to ensure that your potential buyer gets approved at a lender that allows this transaction. I would suggest that you confirm this at the beginning of the transaction, so you do not find yourself with a qualified buyer who is unable to purchase your property. You can insure this by encouraging them to prequalify at Academy Mortgage.

If you are a buyer thinking of, or actually purchasing a property that has been owned by the current seller less than 90 days (also known as a flipped property) you will want to call Academy Mortgage to get prequalified. If you’re already prequalified your next call needs to be to your lender to insure they can handle your loan transaction.

There are a few guidelines that both buyers and sellers should be aware of on these transactions. Property inspections and increased credit score requirements are a few of them. Give me a call to find out additional guideline requirements. Don’t miss out on a great deal because you didn’t start with a lender who could get you closed.