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Updated over 9 years ago,
Newbie looking to buy SFH using VA loan 4hrs north of me.
I know there are a lot of stipulations with the VA loan but was wondering if I could make this far-fetched plan work? So I reside in Murrieta CA and own a home with my Girlfriend (my gf is active duty and I am as well). Due to some crazy clause last year the bank didn't want to approve us because we weren't married, so to rectify this we had to choose only one of us to go on the loan (we went with my GF) long story short I have no home loan under my name so my VA loan is untouched. I have a friend that is stationed in Lemoore CA (4hrs north of me) and he said he will rent from me if I buy a house up there. What are my options to make this somehow work with my VA benefits? Or is this not doable? Thanks for any help I'm loving this site and learning so much!
Oh and to add I am getting out of the Navy and am currently on "terminal leave" so I am still being paid until I officially separate honorably in July (approx $4500/mo). My income once July comes around will be my GI Bill Housing allowance which is approx $2k a month. I can have my GF cosign or even my father or mother if needed.