Va Loan For Second Residence. Va entitlement for a second va home loan. This refinance option is open to qualified homeowners with and without va loans.
Numerous circumstances exist that allow the borrower the opportunity to qualify for an additional va loan following a foreclosure, bankruptcy or short sale. In fact, the va has no rules for how many times you can use your entitlement. As the va typically guarantees 25% of a loan, if you multiply that number by four, you will know how large of a loan you can get with the entitlement.
Yes, you can use a va loan to buy a second home, as long as it will be used for your primary residence.
In fact, the va has not set a cap on the number of times the va loan entitlement may be used. An exception is when a property used to be a primary residence, still has the va loan, and is now a rental or vacation home. Your lender should also be able to help you with this. A “reasonable time” means moving in within 60 days of.
