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 to purchase a home with a va loan again even 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 on your primary residence. 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. Some lenders will only give you a VA loan if you have full entitlement but that’s not how the VA government agency loan program works.  These loans require careful calculations of your remaining entitlement, VA eligibility and debt to income ratio. 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 VA loan entitlement for each eligible Veteran is 25 percent of the loan amount. VA lenders typically loan up to 4 times the available entitlement without a down payment. This 25 percent rule is true in all parts of the country.  A Veteran’s income and credit must qualify and the property must appraise for the sale price. You can use your basic entitlement to buy an existing home or purchase a new construction home.

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. In some cases you can even purchase a home with the seller paying the closing costs so you have very little out of pocket cash required.  So, if the other requirements are met (for example income and credit history) then you can buy a home with minimal expense as long as you can comfortably make your mortgage payments.


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.  If you are an eligible veteran or active duty service member you may be able to quality for a VA loan with a difficult credit history with HomePromise.  One of the key steps is call us at 800-720-0520 so we can make sure we are able to get your VA Certificate of Eligibility (COE).

VA Lending With HomePromise

The VA Home Loan benefit is the best mortgage choice for military members, Veterans or a surviving spouse. For almost every Veteran or service member, 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. So, if you’re a veteran buying your second home or an active duty military member buying a second home at a new duty station, please call us at 800-720-0250.


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