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Updated over 7 years ago on . Most recent reply

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Aaron T.
  • Developer
  • Aguada, PR
272
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906
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need to finance with VA loan on 4unit at $775 -help

Aaron T.
  • Developer
  • Aguada, PR
Posted

Looking to find financing on a deal.

I found a 4unit building for $775k. I would like to use a VA loan on the property with zero down. I am having a hard time locally getting anyone to fund it.

I was told most lenders will not fund that amount as a VA loan, because they cant sell it on the second market.

  • Aaron T.
  • Most Popular Reply

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    Jared Bouzek
    • Lender
    • Denver, CO
    226
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    Jared Bouzek
    • Lender
    • Denver, CO
    Replied

    @Aaron T. I recommend you read the VA guarantee calculation examples at this link provided by the VA: VA Calculation Examples

    Example 7 would apply most closely to your scenario although not exactly and you didn't state if you've used any of your entitlement.

    The Hillsborough county, Florida VA limit for a 4-unit is $815,650

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