Long story short, I am looking to buy 2d property using left over VA entitlements. I do meet all of the requirements set by VA (have lived in current place over 2 years, have enough entitlements left, etc.). I was already preapproved and already lost a bid on a few homes. Here's my question to underwriter as I can't get a straight answer from any loan officer, which makes me feel that underwriters make a decision very subjectively. I am looking to buy 2d VA home 5 mins from my current home. This home will not be an upgrade to my current home (very similar, same district, similar square footage, etc.). I intend to turn current home into an investment. Will underwriter deny my application for VA, which will leave me with conventional investment property loan only option where it's 7.2% vs 4.8% VA. The only justification that I can make, and it is true, is that I want my child to attend a school which is in-zone for the home we're looking to purchase (out of zone for home which we currently live in but still all the same district). TIA!

    A question to underwriter (2d VA loan).
    byu/-bumbastick- inMilitaryFinance



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