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Can I purchase an investment property using my VA entitlement?

by nathan137 from Milton, New Hampshire. Jun 16th 2016 Reply


William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,414 contributions

NO.. VA financing is only for owner occupied primary residence purchases.. However, there's not preventing you from buying a new home using your VA benefits and then renting out your exiting home!.. 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 16th 2016
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Steven Karp (stevek81)
#1 ranked lender in Massachusetts - 135 contributions

Sorry, A quick" No" to your question and that, in fact, the only way you would be able to rent out your existing home and buy another with your VA entitlement is if you were going from a multi-family to a single family, or maybe a condo to a bigger home...It may be do-able...but it will not be easy.....For the most part, You can only have one VA loan at a time.....and then qualifying would be a whole other matter...If you want to crunch some numbers and know for sure, you have to speak with a loan officer ...I lend in NH and will be happy to discuss, but personally it sounds tough from what I have encountered in the past.....

Jun 16th 2016
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Larry Gray (lgray_312_247)
#594 ranked lender in California - 1,139 contributions

Within a certain geographical area you might be able to rent out a current home and buy a new home with VA benefits providing there is a good reason...i.e. needa bigger home. If you were to be moving a substantial distance from your home (i.e. relocating from a job in Milton, NH to one in Boston, Mass) that constitutes agood reason to be moving into a new primary home.

Jun 16th 2016
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,754 contributions

NO, a VA loan is a primary property purchase only. You can buy multi-family with a VA loan, but you need to live in one unit. www.VA-IRRRL-Loan-MN.com

Jun 20th 2016
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