All Forum Posts by: Brantley George
Brantley George has started 1 posts and replied 4 times.
Post: Converting a VA loan to conventional
- norfolf, VA
- Posts 4
- Votes 3
Originally posted by @Sabrina Maples:
Originally posted by @Brantley George:
how much of your VA did you use you can always get a second i currently have a va loan on my house and in the middle of looking for another house with a pre approval for a second va loan
Our lender wouldn't allow us to have a second mortgage through the VA because he said we would need some sort of emergency purpose/reason to do so. I know the limit for VA funding is $511k total if you had more than one property.
No my lender did not have any problem used about 180k on my first one and pre-approved for 330k on my second and staying in the area I would maybe talk to a different lender but you also need to live in the house for a year before you can rent it and if you don't already have the house rented you need to have your debt to income ratio low enough to afford both of them at the same time
and I also just refinanced doing an irrrl
Post: Converting a VA loan to conventional
- norfolf, VA
- Posts 4
- Votes 3
Originally posted by @Mark H. Porter:
I'm not sure what you mean by how much did I use? I refinanced the first house, freeing up the VA loan guarantee. I then used that guarantee, and process, 2 more times on future investment and personal properties.
that was for the first post not yours
Post: Converting a VA loan to conventional
- norfolf, VA
- Posts 4
- Votes 3
how much of your VA did you use you can always get a second i currently have a va loan on my house and in the middle of looking for another house with a pre approval for a second va loan
I have a few question about trying to start out investing using the BRRRR strategy ive been luring around the form for almost a year and decided i need to start investing. i just don't know were to start i get the concept of the strategy.
should i go to a real estate agent first then once i have found a deal bring the numbers to a hard money lender? should i wait to talk to a bank about the refi until i have purchased it or until its rented? its a lot of moving parts and i would just like to have as much info as possible and peoples experience on how they went threw the whole process any help is appreciated.