Can you BRR with a VA Loan?

2 Replies

No, not BRRRR with a VA loan, just BRR.

Buy, Rehab, and Refi with a VA Loan.

My wife and I are considering buying our first primary residence soon (within the next year). I am wondering if it would be possible to use a VA Loan (no money down) to refinance out of a private money situation? This way we'd be able to get a great deal on our house, it'd be up to the standard of house that my wife wants since we'd be in charge of the reno, and we'd be able to force enough equity in the property to eventually refinance it out later when we move to possibly rent it out.

If anyone has done something similar with their primary house, please share! 

I know traditionally with the BRRRR method, most lenders want a 6 or 12 month seasoning period of the property being rented. So I guess a part 2 of this question is why do they require that seasoning? I thought they're only going to loan on the appraised value of the property, so why should it matter that it's being rented out? My hope is that because with the BRRRR method, getting a conventional loan on a non-owner occupied property just has different criteria, but since this would be for an owner occupied property, I won't need that seasoning period and could refi with a VA loan as soon as the reno is done.

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