Pricing Placement for N/O/O FLIP Conventional Purchase Scenario

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One of my brokers has a borrower who wants to purchase a home as an investment property. The seller purchased the home “on the steps” in mid august, making our purchase scenario a “FLIP.” Sellers did minimal upgrades, consisting of painting and perhaps carpet, thus not a lot invested into it. They bought it very low since it was a foreclosure and are selling it 2 months later. My question is if this type of loan will be priced out as a PORTFOLIO Conventional or as a STANDARD Agency Conventional. My bank sells our loans direct to Fannie Mae therefore we have no investor overlays, so what DU approves = what we approve. The pricing between Portfolio and Standard Conventional is significant. Thanks for your help!


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