Skip to content
Welcome! Are you part of the community? Sign up now.
x

Posted about 6 years ago

VA Home Loan for a 4-Unit??

So I just learned this weekend A LOT about the VA Home Loan. 

The VA Home Loan is a loan offered to veterans of the US Military. It's a long standing program with many benefits. 0 down, 30 year fixed-rates, and NO PMI. 

The best part? It is available to purchase up to a 4-Unit complex! Say what?! I had to double and triple confirm with my source, a VA Home Loan Office at USAA. Pretty credible in my book. 

Another great perk of the program is that you can have up to 3 VA Home Loans in your name at a time, which can add up to $453,000. 

The caveat is that, at the time of closing, you have to have that property as your primary residence. The question is, how long do I have to occupy? According to the VA Home Loan officer I spoke with, there is no minimum amount of time you have to occupy the property before renting out the property, to search for your new primary residence with the next VA Home Loan. 

I am seriously investigating this option to acquire my first duplex, 3 or 4 unit property.

One hurdle I've encountered so far, when running the numbers, if I put 0 down this leaves little (if any) cash flow opportunity. With no skin in the game, acquisition costs and rents have to make sense. 

This seems to be a great strategy to get into a multi-unit cheap but it may take time before I see actual cash flow. Equity will the goal with this strategy.



Comments