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Looking to get a new VA home loan

I currently live in a home that had a VA loan that is now paid off. I was wondering if I can get another VA loan for a vacation home I'm interested in getting that is out of state (I'm in Texas, looking for Arizona). Can this be done? by jeffre_803_925 from Plano, Texas. Dec 13th 2011 Reply


David Webber (DavidWebber)
#57 ranked lender in Texas - 71 contributions

Yes you can use your benefits. Please call me to discuss. David Webber - North Star Bank 214-771-8696

Dec 13th 2011
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Korene Clopine-Seaman (korene)
#69 ranked lender in Arizona - 90 contributions

Thank you for your service and sacrifice for our country. VA Loans are for primary residence only. You can do a cash-out refinance on your primary that is VA and then use those funds to purchase a second home. Please call me and I would be please to help one of America's finest. I am a Senior Mortgage Originator at one of American's best direct lenders.Sincerely,Korene L. Clopine-SeamanNMLS# 218520Senior Mortgage OriginatorAZ License # LO-0916745CA License # DOC-218520 NMLS# 3233AZ-Mortgage Banker License #BK-0903998W J Bradley Mortgage Capital Corp.9237 East Via De Ventura, Suite 100Scottsdale, AZ 85258 USADirect Phone: 623-340-0934 Fax: 623-218-1807eMail: korene@wjbradley.comMortgage Website: www.klcsloanteam.com

Dec 13th 2011
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William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions

If you decided to move to Arizona and keep your TX home as a 2nd home, you could use your VA benefits. VA benefits are for primary residences only. I'm an Arizona Mortgage Broker,... WilliamAcres.com

Dec 13th 2011
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Bert Carpenter (BertCarpenter)
#37 ranked lender in Arizona - 2,431 contributions

Yes and no. VA loans are allowed only on a Veteran's personal residence. If you have paid off your previous VA loan, it is easy to get your eligibility re-established. You could then use a VA loan to withdraw up to 85% of the appraised value of your home. You could then use these funds to purchase the vacation home wherever you want.

Dec 13th 2011
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Brian Allen (ballen)
#43 ranked lender in Maryland - 193 contributions

The law requires that you certify that you intend to occupy the property as your home. But it specifically provides that occupancy by the veteran's spouse satisfies the personal occupancy requirement I can be reached at ballen@accessnational.com or 888-354-3299.

Dec 13th 2011
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