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Can I have two VA loans at the same time?

by felipe475 from Westby, Wisconsin. Jun 21st 2016 Reply


Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,524 contributions

Yes, no, and maybe. Officially a VA loan is really designed as "one at a time". But technically you can "possibly" have two VA loans at the same time as loan as the first one isn't using all your VA eligibility. A VA lender like myself would have to review your current Certificate of Eligibility, and then see how much new home you are looking to buy to see if you can possible swing it. This is generally possible if the current home is just a small loan and not using much of your eligibility. It is a bit complicated, so call me if you have questions. I do VA loans in MN, WI, and SD. www.VA-IRRRL-Loan-MN.com

Jun 21st 2016
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Yes it is possible. Like Joe mentioned there are several factors that have to be considered and calculated. I recently helped someone use their VA loan benefit for a second house. Call me if you would lime to discuss. My closest office id Madison

Jun 21st 2016
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Lorne Harvey (lorneharvey)
#81 ranked lender in Washington - 418 contributions

Yes, it is possible. Best to speak with a good loan officer and see what your options are and how you would go about qualifying for that.

Jun 21st 2016
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William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,933 contributions

Well, like Joe said.. yes, no and maybe.. understand that VA loans are for owner occupied, primary residence only.. if you have a VA loan now, and wish to buy another home that you intend on moving into as your NEW primary residence, then yes.. this is allowed, but you would be limited to your remaining entitlement.. With VA, you can do zero down up to a maximum of $417K. If you have a $200K VA loan now, then you would be limited to a $217K loan for the next property. ($200K + $217K=$417K). you can purchase a home for more than the $217K, but you would need to put 25% of the difference down. Example: you have $217K remaining, you purchase a $317K home which is $100K over your remaining entitlement.. you would need to put 25% of the $100K, or $25,000 down to purchase this $317K home using VA. 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

Jun 22nd 2016
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