Lenders will order an appraisal to ensure the home is worth the sales price.
: If the appraiser flags safety issues like exposed wiring or a failing roof, the lender will likely require these to be fixed before closing. The FHA flip rule: what you should know - Tomo Mortgage buying a flipped house with a conventional loan
Do not take "newly renovated" at face value. Flipped homes sometimes prioritize aesthetics over structural integrity. Lenders will order an appraisal to ensure the
: While Fannie Mae and Freddie Mac don't have anti-flipping rules, individual banks may have "overlays" (extra rules) regarding recently resold properties. Always confirm your chosen lender's specific stance on flipped homes. 2. Verify the Work (Paper Trail) buying a flipped house with a conventional loan