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Bought my house with VA loan. Need to relocate for 2 years. I don't want to sell my house. Can I keep the VA loan while I'm gone

by cbeaul2438 from New Kensington, Pennsylvania. Oct 7th 2016 Reply


Leo Harvey (LHARVEY)
#6 ranked lender in Pennsylvania - 140 contributions

Sure, VA does not prevent you from maintaining your current home as a second home or an investment property. You just can't get another VA loan for another property until the current one is paid off.

Oct 8th 2016
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William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,933 contributions

Yes.. you can even rent it out if you wish.. and so long as you have sufficient remaining entitlement, you can use your VA benefits to purchase a new "Primary Residence" home.. If you want to know for sure, you should try to contact a LOCAL mortgage broker and apply with them. They can look up your VA benefits and see how much entitlement you have remaining.. and once they verify that, they will be better equipped to advise you properly. Also, by applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347

Oct 10th 2016
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Michelle McCormack (mmccormack@stearns.com)
#112 ranked lender in Pennsylvania - 2 contributions

Yes, you can keep the home as a rental while you are gone. If you feel that you may also want to purchase a home in your new location, as long as the two mortgages combined are under 417,000, you may also qualify to purchase your new home using the VA Guarantee. New purchase price must be over 144,000. Please contact me at mmccormack@stearns,com for more information on VA loans. It is my specialty.

Oct 8th 2016
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Michelle McCormack (mmccormack@stearns.com)
#112 ranked lender in Pennsylvania - 2 contributions

Yes, you can keep the home as a rental if you choose, and still keep your VA home loan. if you want to purchase another house, and as long as your current mortgage and your new home loan are less than 417000 combined, you may be able to purchase the new home using your VA guarantee if the new home is more than 144,000. VA loans are my specialty. Please contact me at mmccormack@stearns.com for more information on VA loans.

Oct 8th 2016
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