Username Post: renting out your home
Henri Jean
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Posts: 30950
Joined: 04-25-09
Henri Jean

    In response to Seaexplore

I think the current maximum right now is $729,000 so your current home and your new one can have up to a loan total of $729,000.

That is the same limit for anyone getting a VA loan - they won't loan more than that whether it is one house or several.

I think it has to be owner occupied but if you did your current house now you can finance your new as an owner occupied when it is better.

The only issue that could raise its ugly head is that you used to have to hold a home with a VA loan and owner occupy it for a year before you could rent it but that may work with the time frame of your new house.

Or they may not have that stipulation anymore.

I'm going to research the funding fee because I'm curious to see if anything has changed and also research the owner occupany thing becuase I have a buyer who is going to buy VA in September. I need to educate myself before I can help him!


 
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