Speculator financing squeeze
Lenders clamping down on quick flip deals
Investors looking to borrow for a quick flip deal are finding fewer options available to them today. Many mortgage originators are refusing to finance quick hit in-out deals. A bank typically breaks even on a loan after it has been in place for 12 months, making quick flip deals often a losing proposition for them.
Locally, we have seen the mortgage financing belt tightening particularly impact out-of-state buyers. Many local originators are turning away investors that are out of region.
With this tightening of financing, the cash investor should have a decided advantage in securing competitively prices properties.
Quick housing flips getting harder to do [Orlando Sentinel]
Investors looking to borrow for a quick flip deal are finding fewer options available to them today. Many mortgage originators are refusing to finance quick hit in-out deals. A bank typically breaks even on a loan after it has been in place for 12 months, making quick flip deals often a losing proposition for them.
Locally, we have seen the mortgage financing belt tightening particularly impact out-of-state buyers. Many local originators are turning away investors that are out of region.
With this tightening of financing, the cash investor should have a decided advantage in securing competitively prices properties.
Quick housing flips getting harder to do [Orlando Sentinel]
posted by Mark Washburn on 7/26/2005
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