Waiting period for buying a "flip" property

by Deborah
(Las Vegas, NV)

Is there a waiting period for a VA buyer to purchase a property that is a "flip" ??
Thank you

=====ANSWER=====

Hi Deborah,

Hello and thank you for coming by my site and asking a question. A good question I might add.

If what you are referring to is someone has purchased the house for investment purposes say 3 months ago, fixed it up and now wants to sell it to you with a VA loan, then I may not be the one to give you the answer.

I'm no longer in the mortgage business and do not have access to underwriting guidelines. However, your loan officer should be able to help you.

In the past, when I was in the mortgage business, it was not uncommon for government lenders to want some seasoning on the property. I cannot remember how long it was to be truthful.

I seem to think is was 6 months, but it could have been 12 months.

I just wish I had a more definitive answer for you. When you go to talk with a lender, they will be better able to answer your question.

Kind Regards,

Jeff