Using VA Loans to Purchase Rental Properties
2 Replies
Jeff Byrne
Rental Property Investor from Louisville, KY
posted 11 months ago
Just curious right now, but has anyone had success in using a VA loan or multiple VA loans to finance REI deals? I know that they have a ton of upside, however I am unsure of the rules/regulations surrounding them and possible limitations surrounding how many one can take out. In my current situation I won't qualify for a VA loan for another 5 years or so, but in the mean time I would love to understand more so that I can be ready to use that down the line or possibly help someone take advantage of that opportunity now.
Brian Van Pelt
Realtor from Owings Mills, MD
replied 11 months ago
@Jeff Byrne
The VA loan can be used to purchase up to a 4-unit house so long as it is owner occupied. These homes are also known as multi-family dwellings, and can be referred to as 2, 3, or 4 family houses. These homes are typically separated units with each functioning as a separate apartment.
Jeff Byrne
Rental Property Investor from Louisville, KY
replied 11 months ago
@Brian Van Pelt how long would someone have to live in the unit before they had to move out that would not break the mortgage agreement?