VA Loan Refinancing Multi Unit

[Gregg Reinbold]

I retired from the military in January and want to move back to Western NY. I am thinking about refinancing my fourplex, but the last couple of tenants did a number on two of the apartments while I was away. The unit I plan to move back into is okay. I want to refinance so that I can buy a construction business from a owner that wants to retire. Can a VA loan be used on a multi family if some of the units need repairs?

[Aaron Gorum]

@Gregg Reinbold with an ARV of $125k you will cash out around $90k. $150k will give you $112k. I just cash out refinanced my rental in Auburn Al and they also took my renter history and lease into consideration, but if you are going to live there, that income should just help your debt/income ratio. But, I am not a lender not a financial expert, just talking from my deals.