Owner Occupant with VA Loan first OR Investor Property with FTHB

1 Reply

So I have the ability to purchase my first home with my VA loan. Major factors: I need to get into my own home within 3-4 months, the winter season sale prices won't stay as low for long, I want to invest in a property but the multi-families in my area aren't the best (little options) Philadelphia is right across the bridge for me to invest in as I build equity and/or tax season hits....what to do first is my question, buy a little high for my owner occupant and then invest, as saved cash is at a minimum, or rent, invest and then buy owner occupant property.

@Sonia Luzunaris many of my investor clients here in the Berwyn/Oak Park area deal with this type of conundrum when dealing with these types of owner occupant loans. I personally would be very cautious of buying just because I can use a specific loan product (VA, FHA, FHA 203k, etc). I would focus on finding a solid deal, and then use the appropriate loan product to close the deal. I personally have never used an FHA loan in my own investing because it hasn't made sense yet!

As a military member, be especially sure that your property will make sense if you move to a new duty station as well. A lot of military members get caught using the VA loan, and the property doesn't make sense when they move to the next duty station.

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