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Updated about 6 years ago,
VA loan financing, buying multiple homes within 1 year
Hey all! Here is the situation I would love any tips from people who have more knowledge around loan structure than I do:
I purchased a Duplex last month at 112k. The VA loan gives veterans 400k plus for home purchases so I have a lot left over. In the loan contract it reads: Must be an "owner occupant", "must intend to move in within 60 days", must not apply for a VA loan if knowingly will be moving within 12 months". KNOWINGLY being the key word here.
So, none of this sounds like set in stone, you will lose your home if you violate these terms clauses. I would like to buy another duplex as soon as possible so I can increase my total unit count.
What do you all think about using VA again, would they flag me? Would it work? Would they even notice? Thank you! -Andrew