Va home loan terms and conditions

[Walter Correia]

Im sure this question has been answered before but here it goes. If i use 228,000 in VA loan to purchase a home am i able to use the remainder of the balance in the future as long as it totals 417,000? If this is true, how long do they require you to live at the property before moving on?

[Brian Volland]

You have to owner occupy for at least 1 year. As far as the remainder, if you use your VA loan then pay it off, you can reuse the entire entitlement. If you use the VA loan and want a second one, there are only certain circumstances wherein you can access the remainder which is known as a "second tier" VA loan.