Updated about 10 years ago on . Most recent reply
VA Loan with Owner Second?
Is it possible to use a VA loan and have the owner carry back a second? In my area housing prices have jumped a ton. Because I use my free cash to buy properties, I don't have a ton of money for a down payment. Can the owner cover that?
For example, the VA loan here goes to $458,850 but the property I want is $600k. Can I make a full $600k offer with the VA covering up to their max, and the owner holding a note for the remaining $141k?
Does that violate any strange VA rules? Or does it violate any underwriting guidelines? It seems like the only thing with more power than an underwriter is an appraiser!