With the HUD rules , is it still possible to carry insurance on a loan if you flip a house up to that time 90 days?

Answers: If you are buying a hud property that they foreclosed on you ahve to read the contract. They usually try to get rid of them so that they are owner occupied. If this is the case afterwards you need to be in the house for 12 months. If it be not to be owner occupied I believe you do whatever you want.
The HUD rule in relation to "insurance" and "90 days" has to do with a buyer using an FHA insured mortgage to buy a home that be aquired less than 90 days earlier. They cannot. This applies whether you bought the home from HUD, VA, a hill, your neighbor or your mom. It has to do with HUD's "anti-flipping" rules. It doesn't scrounging you can't flip the house as fast as you want, it just vehicle the buyer can't use FHA financing. If it's under 180 days, HUD may require two appraisals to allow it to go FHA. I reflect that's only if you're trying to sell it for twice the aquisition cost. Source(s): 14 years Texas Realtor
Your question is not clear. Are you buying a reposessed house or talking in the order of mortgage insurance because you have less than 20% down?

No one pays mortgage insurance anymore. Get an 80% first mortgage, next a 20% 2nd mortgage or equity line if you qualify.

A bigger question you should be asking yourself is whether or not in that is a prepayment penalty on the loan you are getting. You could lose all your sweat equity by casually checking that out.

If you really want the mortgage insurance because it is a cheaper way to go than the 2nd mortgage or equity string, and there is no prepayment penalty, next why do you feel obligated to tell them you are flipping it? It is none of their business.
If you or another buyer is looking to buy a piece of property that be purchased less than 90 days previously, you/ they can not use FHA insured financing. A sales contract can not be enter into before the 91st day after the recordation of the end sale.

Hud will require a second appraisal if the home is sold (entered into contract) between 90 and 180 days of recordation of the last public sale.

Since all laws rise and fall on a state level, you may want to check with a licensed broker/agent within your area. Source(s): Licensed real estate broker.

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