Forgotten Your Password?

Need to Register?

Question Icon

Can I save my VA entitlement to use it later on an investment purchase, rather than a primary residence?

by PBaelish from Saratoga Springs, New York. May 1st 2013 Reply


William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions

the only investment property you can purchase with a VA loan would be a building up to 4 units, but you must live in one of them. There are no other scenarios where you can purchase a VA loan as an investment property upfront.. You could however purchase a home as your primary residence using VA, and then after the required 1 year of being an owner occupied property, convert it to an investment, and go buy something else.. but, as others here have stated,,, VA is for a primary, principal residence only... I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

May 1st 2013
2
0
Thomas J. Liolos (tliolos)
#38 ranked lender in New York - 16 contributions

No... Unfortunately, VA Mortgages are strictly for Owner Occupied Residences, investment properties are not allowed

May 1st 2013
0
0
Peter Savino (855411LEND)
#99 ranked lender in New Jersey - 332 contributions

No, Investment Properties are not allowed with VA. NYloanman@aol.com Peter Savino www.HOMEMORTGAGEXPERT.com

May 1st 2013
0
0
Dave Metsker (DaveMetsker)
#35 ranked lender in Oregon - 2,318 contributions

Must be primary residence

May 1st 2013
0
0
Jason Vondrak (jvondrak)
#220 ranked lender in California - 1,741 contributions

No, VA loans can only be used for the purchase of a primary residence, not for an investment property.

May 1st 2013
0
0
Carlo Sanchez (MortgageLendingPro)
#0 ranked lender in Utah - 1,163 contributions

Va entitlements cannot be used for Investment Properties unless you are living in the property which makes it a Primary Residence. The only way this can be done is for you to purchase a Duplex, Triplex, or 4-plex AND You are going to moving into one of the units.

May 1st 2013
0
0
Charlie Sparks (CharlieSparks)
#8 ranked lender in New Mexico - 401 contributions

William Acres said it best.

May 1st 2013
0
0
Joe Shamie (Joe Shamie)
#4 ranked lender in New Jersey - 1,412 contributions

VA loans require Owner Occupancy

May 1st 2013
0
0
Elden Lewis (elewis_409_299)
#41 ranked lender in Indiana - 223 contributions

It can only be used for the primary residence except if you occupy one of the unites of a 2-4 unit building. I think you should know from what i can tell from your question is there is no limit as to how many times you can use your VA entitlement. You can use your entitlement then sell the home and the entitlement is reinstated and ready to be used another day and you can do this as many times as you want.

May 1st 2013
0
0
James Mazzola (Mazzola)
#109 ranked lender in New Jersey - 314 contributions

VA Mortgages are strictly for Owner Occupied Residences

May 1st 2013
0
0
Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,843 contributions

VA loans are for owner occupied properties only... www.VA-IRRRL-Loan-MN.com

May 1st 2013
0
0
Michael Patterson (MichaelPatterson)
#51 ranked lender in Washington - 73 contributions

VA only allows purchases of primary residences using VA eligibility. (1 to 4 units) You can however convert it later to an investment property. You can even do a streamline VA refi on an investment property as long as you don't need to obtain an appraisal.

May 2nd 2013
0
0
Subscribe to our news feed.