Posted on: 09th Oct, 2013 03:11 am
My fiance and I both served in the army. Is it possible for us to get two houses separately with VA loan and utilize one property as rental?
Hi Kolvein,
VA loans are mainly available for primary residences. They are not available for investment properties. So, I don't think it will be possible for you to buy a property with VA loan and use it as a rental property.
Take care
VA loans are mainly available for primary residences. They are not available for investment properties. So, I don't think it will be possible for you to buy a property with VA loan and use it as a rental property.
Take care
I agree to the reply of Sara. It's true that VA loans are not available for investing in rental properties.
When both of you intend to buy a house separately, then you all can apply for VA loans for your respective houses. However, there is no compulsion to physically occupy the house but it should be in close proximity to your place of employment and that you cannot establish a principal house of residence elsewhere. In any case, homes purchased with a VA loan cannot be used for rental income, unless they are multi-unit properties.