Buyer with excellent credit can't get a loanSanta Ana, CA. Oct. 9, 2005 — Over
the past 12 months, a licensed real estate professional applied to buy a
primary residence with no prepayment penalty. A primary residence is a
residence in which you intend to occupy for a majority of the
year. He immediately sold the property after 120 days (4 months)
and did this 3 more times. On his fourth deal, lenders' underwriters
considered him an investor flipper and denied him a loan although he had
excellent credit scores. He was informed to hold the property for at
least 1 year to not be considered a flipper and put down twenty percent. |