FHA will continue to loosen up on its house flipping guidelines.

As of last week HUD announced that it will continue to loosen its guidelines in regards to home flipping in order to assist banks in getting rid of their foreclosed inventory.  On the contrary to this many mortgage banks are maintaining their overlays that will prevent this.  I’m curious to see if mortgage banks will follow suite, if they do it may open up the market for investors flipping properties.

Market Update from Bank Rate FHA :

Dec 29, 2011 At 1:00PM (On average my rates are about .2% below the market average for the same period with 0% origination)

30 Yr Fixed	3.96% Up	3.94%
15 Yr Fixed	3.28% Dn	3.29%

Happy Holidays to my Realtors and clients.

Samuel Morales

Residential and Commercial Loan Officer
Office: (210) 257-0642
Mobile: (210) 286-7267
Fax: (210) 257-0510
www.yourloanofficer4life.com
www.streamlinefha.org
www.streamlinefha.net
www.texasjumbomortgage.org  
NMLS: 295626