VA Loan
Hey everyone. So I'm coming up on my one-year of using one of my units as a primary residence and was wanting to start looking into purchasing another property. Currently, the only way I'd be able to do that would be to use another VA loan. However, as I stated above, I am currently using a VA loan. So I have a couple of questions:
1. How do I go about making my current mortgage into a regular mortgage (not thru the VA)?
2. If I do manage to do the above, will I begin to have PMI?
3. The property I'm looking at is has 6 units, but two buildings (3 units in each). Are they treated as one whole building on a plot of land, or two separate Triplexes?
4. Let's say I do have to have PMI if I don't have my currently mortgage as a VA loan anymore. My brother wants to start investing and we were talking about going in on a house together and he has never used his VA loan. Would we both be able to apply for a mortgage as a VA Loan with just him using it?
I hope these questions aren't are understandable. Any help someone could provide would be awesome. Thanks.