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Can I use my VA entitlement for more than one property? What if the second property is a business?

by michiel817 from Timber Lake, South Dakota. Oct 8th 2020 Reply


Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 4,421 contributions

Technically it may be possible to use your VA benefits to purchase another home at the same time. It all depends on how much of your VA eligibility you've already used, and how much is remaining. VA loans are for primary properties only, and can NOT be used to purchase a business. I lend on VA loans in SD, ND, MN, Wi, and IA. I can be reached at VAMortgageMN.com - NMLS 274132

Oct 8th 2020
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Bert Carpenter (BertCarpenter)
#1 ranked lender in Arizona - 2,300 contributions

There are many circumstances where you can use your VA eligibility to purchase a new primary residence, even if you currently have a VA loan. It depends on what your Eligibility certificate shows as your available eligibility. You can never use your VA eligibility to purchase a non-owner-occupied residential property, or a property that is not zoned as residential. ~ Bert Carpenter, The LoansA2z Team of NEXA Mortgage ~ NMLS 40586 ~ Licensed in Arizona, California, Georgia, Oregon, and Washington. Need help in other states? We've got you covered. NEXA Mortgage is licensed in 46 states ~ www.ApplyYes.com 480-889-9000.

Oct 8th 2020
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