Can I use the VA loan while living in the barracks?

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Can I use the VA loan while living in the barracks?

Fahadbin Alam
Rental Property Investor · Member since 2020 · 160 posts · 40 votes

I was thinking of house hacking a multi-family. I am forced to live in the barracks but on the weekends I can live in the property. So i was thinking I could AirBNB the property on the weekdays while living in it on the weekends to fill the requirements. Will this work?

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Joshua McMillion
Rental Property Investor · Madison, AL · Member since 2019 · 487 posts · 658 votes
5y

@Fahadbin Alam

Depending on your rank, you need to have this conversation with your company commander. The Army and Marine Corps require single service members with pay grades E-5 and below to live in the barracks. You can have this waved, but you need to be transparent with your leadership. When I was a commander, I often granted waivers for single Soldiers given their motivation and goals. If you paint the WHY to your leadership, I am confident they will let you. 

Sincerely, 

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    • JD MartinBusiness Member
      Moderator
      Rock Star Extraordinaire · Northeast, TN · Member since 2015 · 10k+ posts · 16k+ votes
      5y

      As long as the military doesn't have any prohibition on you having a house/apartment as your "residence", then I don't see any reason you couldn't. *BUT* - when I was in the Navy, I had lots of apartments, but my "official" residence was always my ship. This wasn't the case for the guys who were married. 

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    • Fahadbin Alam
      OP
      Rental Property Investor · Member since 2020 · 160 posts · 40 votes
      5y

      @JD Martin I’m a bit confused what do you mean by prohibition? Are you saying if the army doesn’t allow me to buy a house?

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    • Joshua McMillion
      Rental Property Investor · Madison, AL · Member since 2019 · 487 posts · 658 votes
      5y

      @Fahadbin Alam

      Depending on your rank, you need to have this conversation with your company commander. The Army and Marine Corps require single service members with pay grades E-5 and below to live in the barracks. You can have this waved, but you need to be transparent with your leadership. When I was a commander, I often granted waivers for single Soldiers given their motivation and goals. If you paint the WHY to your leadership, I am confident they will let you. 

      Sincerely, 

        3Reply
      • Emery Jensen
        Real Estate Agent · San Diego, CA · Member since 2018 · 29 posts · 9 votes
        5y

        The VA loan requires you to live in the property as your primary residence which is defined as at least 51% of the time. That being said, I'm not sure if just living there for the weekends is satisfactory. I know of people that disregard this rule but it's ill-advised to do this because if the lender finds out about this fraud, they can call or the whole amount of the loan to be due.

        As far as getting approved for the loan it shouldn't be an issue as long as your DTI is good. Remember they can add 75% of the potential income that the small multifamily will produce to your DTI ratio. Just be careful and don't overleverage! Good Luck!

        1Reply
      • Carlos Scarpero
        Lender · Dayton, OH · Member since 2018 · 117 posts · 19 votes
        2y

        Nope. Can't do that. The VA home loan needs to be for your primary residence.

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