Curent home is VA-loan financed. Looking to buy second home in the same city with the remaining VA entitlements plus down-payment (home prices are above current entitlements left). I have lived in the current home for 3 years and intend to rent it out while claiming second home, 5 mins away from the current, as the primary residence. I am not PCSing, but retiring in 14 months (no orders yet).
Two VA loans, same location, no PCS. Possible?
byu/-bumbastick- inMilitaryFinance
Posted by -bumbastick-
1 Comment
You’re only required to live in your VA home for 12 months (or less in the case of PCS), so you should be fine as long as the total of both mortgages doesn’t exceed your VA loan entitlement limit.