Any VA lending specialists in North Alabama ?

Question

Hey guys and gals.  I was wondering if anyone has a contact in North Alabama or nearby that knows VA lending inside and out.  My wife and I are planning on doing some house hacking and I would prefer to have some expert advice before we go this route.  We are interested in hacking four plexes and then refinancing with an IRRL to get my entitlement back, then rinse and repeat.  Any help would be greatly appreciated.

Jared Dison · Answer

Account Closed.  Sent you a PM.

Jared Dison · Answer

@Fyzl Atmar and @Percy N..  Thank you for the connections.  Account Closed Thank you for that information.  It appears I've already stumbled upon conflicting information, which is why I wanted to deal with someone who is as knowledgeable as yourself on the subject.  Thank you guys for the replies.

Account Closed · Answer

hi Jared - doing an IRRRL on a VA loan does not free up entitlement because you are still using a VA loan.  an IRRRL is simply an interest rate reduction refinance loan, so the amount of entitlement you are using does not change as a result of this type of refinanced.  If you refinanced into a conventional loan, then your entitlement should be restored.

Jared Dison · Answer

@Upen Patel I appreciate the response.  I can already tell there are quite a few things I need to reconsider.  It's really an asset having people here that selflessly give their time and knowledge to help others like me.  Thanks again.

Upen Patel · Answer

Hey! @Percy N. Thanks for the tag.

@Jared Dison you can certainly use the VA loan to buy 1-4 unit, but keep in mind that the loan amount doesn't go up with the # of units. The VA loan is maxed out at the local 1-unit max for Fannie/Freddie loans.

Any VA lending specialists in North Alabama ?

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