I need another house

1 Reply

I'm in the Military and used my VA loan benefit last year here in northern Virginia, well it looks like I'll be a landlord shortly because I received orders yesterday to Beaufort, SC. I called a realtor and told him he was my new pawn in pursuit of a larger RE empire, I think that would bring it to two homes. I have a problem though, my DTI will not permit a new VA purchase, or at least that is what I was told from my mortgage officer. I think I need to get creative, thoughts?

I had the same problem with my DTI ratio. I would talk to local (small) banks in the area of where you're moving to, to see if they have any options for you and I'm not familiar with VA loans but I think they might be a little harder to use for an investment empire. If you have any equity in your current home you could refinance, if VA lets you, again not to familiar with those loans. It might be worth selling your current home if the cashflow isn't great and you could purchase something bigger and better in SC. Possibly a home with an income suite or a duplex/triplex or four-plex. Good luck

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