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Get a Second VA Loan
Bonus/Remaining Entitlement can open up opportunities to build wealth. This option allows eligible veterans who have utilized their VA loan benefit to purchase a primary residence to obtain another VA loan concurrently or in the future, even if the first one is still active. By leveraging bonus entitlement, eligible consumers can maximize their home financing potential in various ways.
Key Considerations for obtaining a Second VA Loan
1. Entitlement: To qualify for bonus entitlement, you must have remaining benefits left, which is determined by the amount of your current entitlement in use and the VA county loan limit in the county where you will be purchasing the new property.
2. Occupancy Requirements: As with the current residence, the VA will require you to occupy the newly purchased property as their primary residence. Understanding and adhering to occupancy requirements is critical to meeting the requirements of the VA Lender Handbook.
Maximizing Home Financing Potential with a Second VA Home Loan
Now that we’ve covered the basics of using your bonus entitlement, let’s explore some suggestions to help you maximize your home financing potential using this option:
1. Strategic Property Investments: With a second VA home loan, eligible buyers can strategically invest in real estate and continue building wealth for your family.
2. Home Upgrades and Renovations: Leveraging a second VA loan can enable homeowners to finance upgrades and renovations on their primary residence or investment properties. This can add value to the properties and enhance their overall appeal.
3. Geographic Flexibility: Multiple VA loans can provide the flexibility to purchase homes in different locations, catering to changing lifestyle needs or investment opportunities.
1 Day
Avg. Loan Approval Period
90%
of our business are VA Home Loans
$1B+
VA loans funded
States Where We Do Business
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