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FHA 90 no filling rule change!

This is a great change, in the past FHA required a home be owned for at least 91 days before a buyer using FHA financing could write an offer. This prevented good buyer getting the home they wanted if they needed to use FHA financing to buy a home.

Example: An investor purchased a home at a foreclosure sale at 20% below market value, after closing on the property the investor put the home on the market, at market value to make a profit. Only buyers who were paying cash or using conventional financing could buy the home right away. This prevented FHA buyers being able to bid on the home unless the investor held the property for 91 days before accepting an FHA offer. With the new changes a FHA buyers will be able to make an offer right away.

There are some other conditions like: The investor can’t mark up the property more than 20% unless they had work done to the home and provide receipts. For more info check out