Is it a good idea for me to buy a duplex with the va loan?
I was thinking about buying a duplex with the va loan. It is $129000 and is in an area where i would not have a problem renting it. I am currently on active duty. I have a few friends that have purchased homes just to rent. Is this a good idea? by sgts_h from , . Jul 18th 2011
Steven Brand (stevenbrand)
#2 ranked lender in Minnesota - 121 contributions
Its a GREAT idea. However... you can't use income on UNIT #2 as "qualifying income" like FHA... so your income would have to support the entire payment. AND... VA loans are for PRIMARY RESIDENCE purchases only... so you MUST live in one of the units.
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