Hey everyone, I am currently working to purchase an investment property that I plan to utilize as a short-term vacation rental, I am planning on financing via a conventional investment loan (expecting to close this autumn).
Additionally, I would like to purchase an owner-occupied primary residence via my VA home loan around March/April 2023. However, due to the fact that the investment property will not be a standard long-term rental that shows consistent income, I have been told this may be problematic to secure the VA/primary home loan in the future. Because of general lender hesitancy to lend to STR real estate assets because they view them as a bit more volatile.
Wondering if anyone has any experience or advice regarding my ability to qualify for a VA home loan that I am entitled to within about 4-5 months after acquiring a conventional loan for a short-term rental?
Any help or input would be greatly appreciated!
