Vendee Financing

[James Martin]

One of our clients is buying a VA Foreclosure with a VA loan. The bank emailed contract back to verify that the loan was Va and not VA Vendee. It took me for a small ride because this was my first time hearing about this loan. I look at the application and read that it is also for investors. Property can be financed with as little as 5% down. Investors may use 75% of anticipated rent based on appraiser's estimate to offset against the subject property monthly payment.You must have experience managing rental properties to
include anticipated rent on subject property in underwriting. No maximum number of investment properties. My question is have anyone used this type of loan and is it still available today.