FHA Seasoning Requirement?
Someone told me today that the FHA requires you to have owned the house for 6 months before they will insure a mortgage on it. I thought it was 90 days. Does it vary in different cities or different parts of the country? (The home in question is in Detroit).
Hi andrewb,
The information that I have shows 90 days. It shouldn't matter though, just put a Fannie / Freddie loan on it and be done with it!
BAMZ
Can you do that? I thought Fannie/Freddie were secondary loan markets and didn't issue loans directly to homebuyers like FHA ... maybe a martgage broker can answer this one?
I think that is what BAMZ was referring to; have a mortgage broker obtain a fannie loan for you. And, I agree...
hope this helps,
clear2close
[addsig]