INVESTING WITH VA LOAN
I'm currently deployed overseas and looking to take advantage of my VA home loan benefits to invest once I get home.
1.) Does anyone have any experience investing with a VA loan? Whether it be a rental, flip, etc.
2.) If so, how did it go and are there any special restrictions you would run into if you tried?
Most Popular Reply
VA loans can be used as an investment. You just have to think long term. Once you find a home you would like to live in, you purchase it with your VA loan and live in it for at least 12 months as your primary residence. Once you have fulfilled your owner occupancy requirement, then you can move out of it and rent it out. Keep in mind that you can't use your VA loan again until that one is paid off or refinanced (unless you have more eligibility on your va loan...not to over complicate the answer).
The same is true about FHA loans or any low down payment owner occupied loan. It CAN be used for investment once the owner occupied residency requirement is met. This is what many on BP refer to as house hacking.
Best of luck to you!