VA Home Loan for Investment

[LaTonya G White]

I'm a newbie, so this question may have been asked and answered multiple times.

Has anyone used their VA home loan benefit to purchase a 2nd property, move into this 2nd property as their "primary" residence and rent out the 1st?

Has anyone used their VA home loan to purchase a multi-family unit and move into 1 of the units??

I'm just curious...

I'm here in CA, and with the cost of housing, I'm always wondering if my home is too large and if I should be finding other ways to invest my money, such as buying rental property (2 town homes instead of a house for example) and moving into a house later. Just thinking out loud...

[LaTonya G White]

Originally posted by @Albert Bui:

HI Latonya,

Depending on the county in which you used your VA financing entitlement in prior, getting your 2nd VA property might be tougher because your prior entitlement might be tied up partially already. In this case you may want to refinance your VA loan on your prior property to restore your original VA entitlement to full prior to your purchase.

You can use VA financing for up to 4 units with 100% LTV or 0% down but the subsequent or second use may have up to 1.25-3.30% VA funding fee ( points financed into the new loan) unless if you have a disability rating of 10% of greater on your certificate of eligibility or your COE shows "exempt-eligible veteran."

VA financing when used with a strategy in combination with conventional and FHA may allow you to build your portfolio and cashflow quicker.

Best of

@Albert Bui, thank you for the information. I refinanced my primary home and my VA loan is now reusable