All Forum Posts by: Aaron Nowak

I currently live in GA and I am moving out of state around January time frame. I was planning on renting the house once I move. I was offered a deal by a coworker, who’s wife works as a caretaker for assisted living, about them renting out my house. I was wondering if anyone has any tips for me or if anyone has experience with this type of renting situation? 

I am active duty military and purchased my house back in 2015 with the VA Loan. I recently received a new assignment so I will no longer be living in this house. I called my mortgage company to see if there were any stipulations for renting my house out while using the VA Loan. They told me I needed to switch to a conventional loan and I would need to pay to get it up to 20% equity. I currently don't have enough money to put down to get it to 20% equity. I am wondering if there is a different type of loan I can use that doesn't require having 20% equity in the house and still be able to use it as a rental? If anyone needs any further information feel free to let me know!