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VA loan question

How long do I have to wait to access my VA entitlement after my previous VA loan is paid off? by b.latimer69 from Orem, Utah. Apr 7th 2016 Reply


Linda Miller (Linda Miller)
#2 ranked lender in Utah - 564 contributions

Hello... If the loan is paid in full you would have your full VA loan entitlement. I can help you obtain an updated Certificate of Eligibility. It typically does not take long. There are a couple of forms to fill out and sometimes the VA will want proof that the loan has been paid in full. That is not always the case, but always good to save all your paperwork on the previous loan. You can give me a call at 801.550.1222 or email me at linda@lindamillergroup.com. Thank you for your service. Linda Miller

Apr 7th 2016
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,055 contributions

You can do it immediately.. It's even possible to have 2 homes with VA.. If you have a VA loan now, and you want to keep that home and rent it out, then so long as you have sufficient VA entitlement available, you can purchase a 2nd home (it must be owner occupied), and still do 0 down.. 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

Apr 7th 2016
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Logan Stapley (logans@vfund.com)
#101 ranked lender in Utah - 3 contributions

Hello B Latimer!Both answers above are correct but there is a little more to the answer that may help. If the property with your current VA loan is in a distant location, such as out of state, often it is not necessary to pay that off in order to qualify to use the remaining unused portion of your VA eligibility. If that is the case and you have more questions, you can call me toll free at 888-663-7300 or email me at logans@vfund.com. FYI, Veritas Funding is one of the largest local lenders in Utah. All our underwriting and closing is done here in Utah. If you like dealing with local staff, give us a shot. Thanks for your question. Logan StapleyBranch Lending ManagerVeritas FundingLayton, UT

Apr 7th 2016
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Lorne Harvey (lorneharvey)
#81 ranked lender in Washington - 419 contributions

Hello, your mortgage loan originator can assist you in restoring your eligibility and/or getting your updated COE.

Apr 7th 2016
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Jericho Cherry (Jerichocherry)
#58 ranked lender in Virginia - 1,107 contributions

The simple answer is right away.

Apr 8th 2016
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