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Updated over 8 years ago on . Most recent reply

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James Meyer
  • Colorado Springs, CO
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Advice on 3rd home!

James Meyer
  • Colorado Springs, CO
Posted

Hi all. New to the forums here. I currently own a rental under a VA loan and one home as my primary residence under a FHA loan. How do I get my 3rd property without have to put 25 to 30% down? I don’t want to take lien on my 2nd property to provide the funds. Should I utilize my remaining VA entitlement to finance the 3rd home? How can I get around having the 3rd home as primary residence which is required under VA?

Thanks.

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Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
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Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
ModeratorReplied

It is very difficult to use your VA entitlement for another property. VA loans are for owner occupants, so to get another one you would likely need to move or be re-stationed to get the exemption to get a 2nd va loan. The most practical way to get a 3rd property is to save up 20%.

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