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Updated almost 6 years ago on . Most recent reply
Has anyone financed a property Partial VA/Conventional
Trying to maximize my VA benefits by utilizing the remaining entitlement. It isn't enough to cover the entire loan amount but I was told it is possible to cover the rest with a conventional loan as long as I brought 20% of the amount being financed conventionally.
example- have used 418k of the 552k entitlement. Have 134k in VA entitlement remaining. Looking to purchase a property for 284k. Would like to finance this 134k VA, 150k conventional.
Is this possible? Has anyone ever attempted this?
Most Popular Reply
- Realtor
- Oakland, CA and a Real Estate Investor with Multi-Family Units and a Self Storage Facility
- 2,389
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If you are still in California have you tried using the CalVet Loan and also Navy Federal Credit Union the also? I found out recently that they actually are open to someone having VA Loan and one of their loans at the same time.
You can't use Calvet and NFCU for a multifamily.......but if you buy an SFR that has an in law unit (and you happen to come up with the idea afterwards to put a renter in the in law unit) then you can utilize that as well.