probability Posted May 27, 2009 Share Posted May 27, 2009 Everything I looked up online said a house must have been owned for at least 90 days by the seller in order to purchase it with an FHA loan, but someone smarter than me said that it's 1 year. Can one of you smart people clear this up for me? Thanks! Quote Link to comment Share on other sites More sharing options...
rbarz Posted May 27, 2009 Share Posted May 27, 2009 Everything I looked up online said a house must have been owned for at least 90 days by the seller in order to purchase it with an FHA loan, but someone smarter than me said that it's 1 year. Can one of you smart people clear this up for me? Thanks!Its not just FHA anymore, many banks are requiring it. The last one I encountered had a 6 months rule, but it wasn't FHA. Plus, title companies now have extra rules about the same thing due to title fraud. Quote Link to comment Share on other sites More sharing options...
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