2 VA Loans

Veterans and active duty military with a VA Home Loan might be surprised to know that they can qualify to purchase a home with a second VA Loan based on what’s called their Second-Tier Entitlement.

While there’s plenty to know about the VA Loan for those just looking to use it the first time, there’s a lot of information about using two VA Loans simultaneously.

A lot of vets think they can only use their VA Loan once and they’re trying to save their VA Loan benefit when they don’t have to. The VA does allow for having two VA Loans at the same time, as long as the max entitlement is not exceeded. Also, the borrower must qualify for the second loan and can use rental income  on the first home to offset the mortgage payment when trying to get qualified income-wise to get another VA Loan.

  • No requirement to close your currently outstanding VA loan
  • Rent your Current Home and buy another home ZERO Down
  • VA county limits, guidelines and eligibility apply
  • Minimum Fico 620
  • Manual and Automated underwriting OK

VA Entitlement calculation examples

Scenario’s to use this loan

  1. You currently own a rental property out of state or in California (financed with a VA Loan) and would now like to buy a primary residence in California with Zero down.
  2. You currently own and occupy a home with a VA loan. Your needs require you to upsize or downsize the home and you would now like to buy a primary residence in California with Zero down.
  3. Your current home with VA loan is upside down. Your needs require you to upsize or downsize the home and you would now like to buy a primary residence in California with Zero down.

This is not a commitment to lend. Prices and guidelines are subject to change without notice. Some products may not be available in all states. Subject to review of credit and/or collateral; not all applicants will qualify for financing. It is important to make an informed decision when selecting and using a loan product; make sure to compare loan types when making a financing decision.

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