New VA Loan Multifamily Restrictions

[Hannah Reichert]

In the next few months we're looking to use our VA loan to purchase a multifamily unit (2-4 unit) and I was surprised (though maybe I shouldn't be) that USAA is not currently approving VA loans for condos or multifamily units. I called and asked why, but they were vague, but my guess is that collecting rents is uncertain in these pandemic times.

Has anyone else had a similar experience? Are there any banks that recently have approved your multifamily unit purchase through the VA loan?

We really wanted to house hack but I think we may have to be extra creative in these strange times!