All Forum Posts by: LaTonya G White

@Albert Bui, thank you for the information. I refinanced my primary home and my VA loan is now reusable

Reopening this post .... so have the property values increased in the areas of Amazon distribution center? Have more businesses moved in??

Here in CA, the cash flow had to make sense.  The properties are expensive and the rent will basically cover your mortgage, a true buy and hold.

I would not be able to justify moving further out into a lower cost area based on the requirements. Too far from work to meet that requirement 

I just did a refi on my primary property and unbeknownst to me, it is now conventional!  

Lender confirmed that I can purchase a multi unit, we'd just have to make a case for it being my primary residence such as closer to the job or a nicer area.

I live in a nice area; however, the city is not as well known as others so I may be able to make a case.  

I know I have to make sure the VA updates the benefit.

Let me know if you have any tips. 

The other thing I was reading was that you can get the second home if you still had “entitlement” on your Certificate of Eligibility or you can change your 1st home to a conventional loan (that is likely pretty involved) 

@David M. good point on moving from single to multi family.  

I was thinking that the multi family could be your 1st home or investment.  

However, If you did move from a single to multi, you could rent your single out for a year and then move back in.  I couldn’t find a clear answer on how long you had to live in the “primary” residence. 

I'm a newbie, so this question may have been asked and answered multiple times.

Has anyone used their VA home loan benefit to purchase a 2nd property, move into this 2nd property as their "primary" residence and rent out the 1st?

Has anyone used their VA home loan to purchase a multi-family unit and move into 1 of the units??

I'm just curious...

I'm here in CA, and with the cost of housing, I'm always wondering if my home is too large and if I should be finding other ways to invest my money, such as buying rental property (2 town homes instead of a house for example) and moving into a house later. Just thinking out loud...