Property flipping occurs when someone buys a home for a low price, fixes it up, and sells it for a much higher price. While it sounds like a great way to make money, it’s frowned upon in the mortgage industry. In fact, the FHA does not allow the purchase of certain flipped homes. Looking for Current Mortgage Interest Rates? Click Here. We discuss the circumstances below. What Does the FHA Consider Property Flipping? The FHA’s rules are very clear. If a current owner owned the home for … [Read more...]