Have You Been Told You Can’t Have Multiple VA Loans?
The VA Home Loan benefit that Veterans earn is not a one time benefit. You can use your benefits again after you get your first VA loan. You may qualify to have two or even three or more VA loans at the same time. Applying is always 100% free – no risk, no cost, no obligation to you.
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Use Your VA Benefits More Than Once In A Lifetime
Can You Have Multiple VA Loans?
The VA Home Loan benefit that Veterans earn is not a one time benefit. You can use your benefits again after you get your first VA loan. You may qualify to have two or even three or more VA loans at the same time. Some lenders don’t know how to do these kinds of loans. These loans require careful calculations of your VA eligibility. If others have said no, don’t give up! It is possible to get multiple VA loans for the same Veteran.
What Is My Basic Loan Entitlement?
According to the Department of Veterans Affairs, the basic entitlement for each eligible Veteran is 25% of the loan amount. VA lenders typically loan up to 4 times the available entitlement without a down payment. A Veteran’s income and credit must qualify and the property must appraise for the sale price.
Can I Get A VA Loan Without A Down Payment?
Yes, it is possible as a Veteran to get a VA loan without a down payment. But, you need to find a lender that is willing to do VA loans with no down payment. HomePromise is a unique VA lender able to finance low down payment VA loans.
Will I Be Approved With Bad Credit?
Yes, it is possible to get a VA loan with a challenging credit history. The VA guidelines permit VA loans with challenging credit histories. It will depend on finding a lender who makes VA loans and can handle credit histories that aren’t ideal.
VA Lending With HomePromise
The VA Home Loan benefit is the best mortgage choice for military members, Veterans, and their surviving spouse. For almost every Veteran, it is a better choice than a Conventional, FHA, or USDA loan. Best known as a no-money-down loan, the VA Home Loan benefit provides a low-fee option for active military members, Veterans, and surviving spouses meeting the eligibility requirements set in place by the Veterans Administration.
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