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If you owe monies to a va loan and cannot use it anymore, if you pay it off can you reuse it and how soon after paying it back?

by Jdfreitas555 from , California. Jan 18th 2018 Reply


Dan Paladin (dpaladin)
#1 ranked lender in California - 465 contributions

If your VA loan has been paid off(back) it restores your benefits and you can access again right away.....

Jan 19th 2018
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,154 contributions

More info needed, and your question is a bit confusing.. do you have an outstanding VA loan now? If so, do you intend on keeping it?.. or are you saying you had a VA loan in the past that went into default? Understand that VA financing has a maximum amount of entitlement.. if you have sufficient entitlement remaining to cover the purchase of the new home, then you can still use it..this is assuming you intend on living in the home, since VA loans are only for owner occupied loans... but home prices in CA are pretty high..so depending on your exact scenario, it's possible you cannot use it.. but without looking at your scenario closer.. it's impossible to advise you.. Feel free to reach out to me.. I'd be happy to take a closer look.. I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893

Jan 21st 2018
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