Using your VA home lone

2 Replies

Hi I'm a Vet who is recently interested in real estate investing and I have a LLC, formed but not enough capital to buy or flip anything i do have and occupy a home and my question is even though I used my VA home loan on my current house is it possible to use the VA home loan a second time on another property to use as a rental property then transfer that title over to my LLC ?

To simply put it, no you cannot do that. You can use your VA loan a second time depending on how much of your eligibility remains and there could be additional down payment if you go over your eligibility. However, VA is a owner occupied loan and you need to be living in the new home within 60 days of closing and must occupy it for a minimum of 1 year.

Best of Luck!