All Forum Posts by: Claudia W.

Hi Jeremy,

We're in a similar situation and looking at using our VA loan to buy a multiple unit as well. Here's what I can tell you what I've found from research so far, if someone knows more concrete information please let us know:

1) I read that VA underwriters use up to 75% of potential rental income to determine your approval.

2) I believe it's 2 years. Not sure how the "intend" to live there comes into play here.

3) As far as I know, the VA is pretty strict regarding the condition of the house you're buying. It has to be in move-in ready conditions (all major systems/appliances in working order). They're not too concerned about cosmetics as long as all the units are "livable" and safe. Because of this requirement, I don't think you can include repairs in your original loan.

I've found all this info after some online research, and am now combing through old BP forums :) I hope it helped you a little bit and good luck with your investing!