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Is it possible to have more than one VA loan at once?

I have one home, but want to purchase a second. Will the VA program allow the entitlement amount to be divided into two properties? by peter_petek921 from Morehead City, North Carolina. Jan 20th 2016 Reply


William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,045 contributions

Yes.. First, you must live in the new purchased home since VA financing is only for your primary residence. and 2nd, Your combined entitlement is capped at $417K, so if you purchased your first home for say $250K using VA, and you have paid it down to say $200K then you would have $217K left to purchase a new home. You can purchase a home for more than $217K, but anything over that amount, you will need to put 25% down.. Example: $217K entitlement remaining, you buy a $317K home. $100K over your remaining entitlement.. you would need to put $25K down, or 25% of $100K. Also, as Mr. Lindsey said, the minimum loan for the 2nd home must be $140K +. 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

Jan 20th 2016
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John Schweer (johnschweer)
#9 ranked lender in Missouri - 162 contributions

Peter, first and foremost from one Veteran to another, thank you for your service..... The correct answer is yes you can, you will need to have a minimum loan of 144,001 on the secondary property & there is a calculation like others outlined however its not 140k and you can go above the 417k combined amount. The 417k is dependent on the local county loan limit for the new home if you are talking 100% financing. If you want to go above that there is an additional calculation to satisfy......I have specialized in VA lending for the last decade with 90% of my clients being fellow Veterans, so I am extremely well versed in the program..... If you'd just like some Intel and light no obligation conversation I'd be happy to explain, educate and discuss the program and your situation..... John C Schweer....Sr. Mortgage Banker....Armed Forces Bank....816-412-3568 Office....816-517-5626 Mobile....816-410-2754 Fax....Email: jschweer@dfckc.com

Jan 20th 2016
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Kenneth Kopper (KenKopper)
#1 ranked lender in Maryland - 528 contributions

Yes, it is called 2nd Tier entitlement. If your current VA loan did not use all of your allowable entitlement then you can use the remaining entitlement to qualify for another home purchase. The property being purchased must be utilized as a primary residence.

Jan 20th 2016
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Sean Young (SeanYoung)
#2 ranked lender in Colorado - 1,109 contributions

The answer is Yes. You just have to have enough entitlement left over to cover the new purchase or pay what the VA won't cover. Talk with a local loan officer or two and they can hook you up with some good advice and show you what your options are. Best wishes, Sean

Jan 22nd 2016
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Stanley Lindsey (lindseys@ffbf.com)
#288 ranked lender in Florida - 4 contributions

It is possible! It is based on a calculation of your entitlement. The second loan must be above $140,000.00 Stan Lindsey

Jan 20th 2016
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Phil Dumouchel (PhilDu)
#1 ranked lender in South Carolina - 2,228 contributions

Sure thing, just did that for one of my customers who closed last week. You just need to have enough remaining entitlement (and of course meet other mortgage qualifications). Usually that means a new loan of at least $144,000 including any VA funding fee which is added to the loan. (Remember the 2nd fee is more than the first unless you receive VA disability income and are exempt.) I can help, just down the road in SC. pdumouchel@primelending.com or 843-619-6025

Jan 20th 2016
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