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Updated over 10 years ago on . Most recent reply

User Stats

452
Posts
10
Votes
Michael Dunn
  • Olive Branch, MS
10
Votes |
452
Posts

VA Dollar amount/Lender amount

Michael Dunn
  • Olive Branch, MS
Posted

I was reading a few sites this morning, regarding VA loans and how they work, especially when it comes to getting a loan for more than 1 property, if you have already used a VA loan to purchase a home

I fall in the Dollar amount ( $36,000 ) / Lender Amount ( $144,000 ) category ,so if I understand It correctly, they will cover $36,000 of that $144,000 , which leaves you with $108,000

So could you in theory, purchase within 4 years, 4 homes, using the VA loan each time and living in each of those 4 homes for the 1 year O.O. rule, as Long as each of those 4 houses didn't appraise for more than $144,000 each ( $36,000 x 5 = $144,000 )

I'm trying to make sure, that before I consider going VA vs FHA , that I can purchase, hold for 1 year and then rent out up to 4 properties, as long as each doesn't appraise for more than that $144,000

Thank you everyone, I really , really appreciate it

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