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Updated about 9 years ago on . Most recent reply

Account Closed
  • Orange, CA
2
Votes |
14
Posts

VA Loan for a multifamily property in Texas

Account Closed
  • Orange, CA
Posted

I am looking to purchase my first multifamily somewhere in Houston and as such I am looking to use my VA home loan. I currently reside in California, however I would like to purchase a multi-family in Houston where I someday hope to live and start from there.

I am looking for a lender to help with the VA loan process, preferably someone that has experience using a VA loan for a multifamily investment property.

Thank you.

Most Popular Reply

User Stats

3
Posts
1
Votes
Shane Milne
  • Real Estate Investor
  • Aliso Viejo, CA
1
Votes |
3
Posts
Shane Milne
  • Real Estate Investor
  • Aliso Viejo, CA
Replied

When it comes to occupancy, VA guidelines specify that a spouse can satisfy the occupancy requirement if the veteran cannot personally occupy the dwelling within a reasonable amount of time (typically 60 days) due to distance employment other than military service. I'd recommend you speak with the Houston VA Regional Loan Center to discuss the specific circumstances to get their "blessing" so to speak. That way when you speak to your eventual loan officer about the irregular occupancy situation you can be confident that VA is OK with it.

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