Can an eligible veteran use his/her VA Home Loan benefit to purchase a multi-unit property up to 4 units? Yes!!
The veteran must plan to occupy one of the units, and they can rent out the other units for income. Also, 75% of the rents from the non occupied units will be considered for the approval of the VA Loan. Often times, some landlord history may be required to claim this income, and several months of reserves is also often required.
The VA loan limits for each county also apply on multi-unit properties.
If you need help finding a VA Lender or a duplex, three unit or four unit, we’re happy to assist.
The Chapman Lending Team at HomeBridge Financial is honored to help dozens of veterans utilize their VA home loan benefit each and every year. We ARE NOT a call center. Our goal is to provide the best customer service in the industry along with the most competitive rates and fees.
Other VA Loan Questions:
- Am I eligible for a VA loan?
- How do I qualify for a VA loan?
- What are the benefits of a VA loan?
- Are VA loans zero down payment?
- What is the VA Loan Limit?
- How much house can I afford with a VA loan?
- Can you pay off debt with a VA Loan?
- How do I get my VA Loan certificate of eligibility?
- What and how much is the VA funding fee?
- What is the VA Interest Rate Reduction Refinance loan (IRRRL)?
- Can I include my non military/veteran spouses income for a VA loan?
- Can I use a VA loan for a multi unit property (up to 4 units)?
- Can I refinance 100% of my home’s value with a VA loan?
- What are the closing costs for a VA Loan?
Semper Fi, Dan Chapman CAPT, USMC (vet)
Please enjoy the series of articles, and email with any questions at all.
About the author: Dan Chapman is the branch manager at HomeBridge Financial Services in North County San Diego, CA. HomeBridge performs VA loans in 46 states. Dan is a Naval Academy graduate, served as a Captain (O-3) in the Marine Corps, and is a Operation Iraqi Freedom veteran. He has been focused on helping active duty military and veterans attain the dream of home ownership since 2007. He is actively involved in several local veteran causes and performs VA loan seminars throughout greater San Diego on a monthly basis. For a free consultation, please contact us anytime.