Updated almost 6 years ago on . Most recent reply
Real Estate investing with new 2020 VA Mortgage guidance
Under the new 2020 guidelines with the increased loan guarantee, how does this impact my ability to purchase subsequent homes while continuing to carry an original or subsequent loan, and purchasing an additional home?
Situation: I have a home, VA secured loan, purchased at $161k. Plan on keeping and not refinance to conventional.
I own a second home with FHA financing, plan to keep and rent when I move.
I am hoping to take advantage of the new rules, if they allow me to do 100% financing on my next home because I will be purchasing something that is over the previous $480k limit (non jumbo county).
Can this be done using VA loan without down payment if DTI is within limits?
I won’t be closing on anything for at least 8 months. I am active duty Military and will receive me next assignment in April of next year. I do not know where it will be though, possibly Clarksville, TN or Tacoma, WA.