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VA Loan For Credit Card Debt

Without owning a home, can a veteran get a loan to pay off credit card debt? by p.pohlman718 from Menasha, Wisconsin. Aug 1st 2017 Reply


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

No, VA loans are really VA home loans. They are tied to property, so without a home, there is no loan. For VA loans in MN, WI, and SD, visit me at www.VAMortgageMN.com

Aug 1st 2017
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Joe Becker (JoeBecker)
#3 ranked lender in Minnesota - 57 contributions

There may be some personal type (unsecured) loans you can utilize for consolidating debt, but in order to utilize VA Home Loan, homeownership is required. I hope this helps!

Aug 1st 2017
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David R Youngs - Assistant Vice President (DavidRYoungs)
#66 ranked lender in Minnesota - 47 contributions

The VA offers a very nice home loan option for those looking to purchase a home or refinance a home that they already own. With a VA "Cash Out" refinance, you may be eligible to take up to 100% of the equity in the form of cash in hand. However it sounds like your question is not so much real estate related, as it is personal unsecured financing. I posed this question to a personal friend who is a branch manager of a larger bank in the Twin Cities. He stated that for retail banking, he is not aware of any VA specific programs unfortunately... Perhaps some banks may offer a veteran special or discount to those that qualify in your area. But you'd have to check with them about the options you may have for unsecured personal loans.

Aug 1st 2017
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William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,933 contributions

Anyone can get a loan to pay off credit card debt (Personal, unsecured), so long as you have sufficient credit and meet that lenders guidelines, but there is not specific program for Veterans. The VA home loan is only used for the purchase of a primary residence. I'm a preferred Lender with Arizona and California 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

Aug 1st 2017
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