Another VA question

[Ross Ellington]

Good evening to all, my question is about the VA loan with a multifamily. I know that I have to live there one year to use the VA loan but what if all the units are occupied at the time of purchase. Is there a window for when I have to occupy a unit or does being fully occupied make that property come off the table? Please help! Thanks :)

[Albert Bui]

Originally posted by @Ross Ellington:

Good evening to all, my question is about the VA loan with a multifamily. I know that I have to live there one year to use the VA loan but what if all the units are occupied at the time of purchase. Is there a window for when I have to occupy a unit or does being fully occupied make that property come off the table? Please help! Thanks :)

My VA underwriters will usually require that the VA appraiser go back out to do a 1004D (AKA a reinspection) to verify that a unit will be cleared to ensure the veteran can move in to live as your primary residence as per the loan requirements.

I had this happen on many properties where there were tenants currently occupying the property. 

Obviously there might be a conflict with state and or housing law with tenants who are in the middle of their contracts. So each area may vary in this ability to force a tenant to leave. Hopefully the listing agent was smart enough to research this issue ahead of time and found the tenant was month to month and issued a 30 day vacate notice or applicable notice.