All Forum Posts by: Jeremy Motte

Yes, it is on the total dollar amount of the loans. I really couldn't advise you on the numbers because I've only got two right now but from the way the lender talked I could get as many loans until I reached the max threshold of dollar amount. As for the amount of time I'm not sure on that one either. Sorry, wish I knew more but just know off of my experience. I know when you purchase a home the VA is considering it to be your "permanent" home per say but they do also realize things come up in life. I would not try and play the system to use it just to acquire property with the intent to rent it in a year because if everyone did start doing that they would probably tighten down on it and hurt the people that really have a legit reason like we did.

Yes you can up to a certain price point. I believe it is $417,000 total. I currently have 2 VA mortgage loans. The first one I lived in for about 2 years and moved due to a job and it is currently rented. I bought my new house that I am living in now with a VA loan as well. I had to contact multiple lenders because they kept saying no. Finally, 1 lender called the VA Regional Office and they were able to adjust my entitlement amount so that I could still have the first house with the VA loan and also purchase my new home with a 2nd VA loan. Just don't give up and if 1 lender tells you no then go to another one. I don't know if they really do think that you can't or if maybe they don't want to go through the extra steps it takes to be able to do it.

A lot of lenders may try and tell you that you can only have 1 VA loan at a time. This is false. I currently have 2 VA mortgage loans. You do have to occupy the property and purchase it as owner occupied. Unfortunately I cannot advise you as to how long you have to occupy it because that I do not know. I bought a house with a VA loan and lived in it for a little over two years then I moved due to a job. I now rent that property out. The second home I had numerous lenders tell me that I could not have another VA loan because I still had the other house. Can't remember the exact number but I know it was more the 5 lenders that said no. Eventually, I found a lender that said yes that it was no problem even though it said I had 0 eligibility left. He simply called the Regional VA office and they added the eligibility that I needed for this new house. So, it can be done. You are just really not suppose to get a VA loan with that intention but life happens and they are understanding with it. It was a lot harder to get the second VA loan but I think it was more so just because the lender was more strict.

If you have any turnkey properties in the Huntsville/Birmingham/Decatur Alabama areas and are offering Seller Financing let me know please. I prefer these areas so that I can go look at the properties myself to make a final decision on them. Looking for a price range of $50K and under right now.

Thank you!

I'm not too sure about what can be done but from the sounds of it to me it does sound like she is just trying to get you to put the place on the market. With the fact the city has never found anything wrong from the neighbors complaints I would think eventually they may just start ignoring her complaints. Then again you may be able to file a harassment charge against the neighbor and use the city as support that she is harassing you AND wasting tax dollars but having the city come out and investigate erroneous claims. I would just apologize to the tenants and reassure them that you are going to try and work with the city to get the harassment to stop.