13 Oct Seeking a great Virtual assistant Loan Getting A residential property?
Can you use a Virtual assistant Mortgage Having A residential property?
Draw Severino is actually an excellent You.S. Armed forces master regarding reserves having a decade, a stretch that considering the opportunity to fool around with a good Va house financing to shop for a primary residence. However, he wished something significantly more.
Severino used the program into the 2015 toward a property within the Orlando that have an additional house unit, otherwise ADU, from the garden. The guy leased one off to safeguards the bulk of his mortgage and you may lived in a portion of the house meet up with the latest occupancy specifications away from a good Virtual assistant mortgage.
As he gone to live in Dallas during the 2017, the guy sold the place when you look at the Orlando and recouped their complete Virtual assistant entitlement, he used on an extra mortgage to order an excellent duplex, once more with no money down.
If that's the case, We made use of the assets given that my top residence and then have rented away one half of the duplex, said Severino, now the owner of Most useful Tx House Buyers LLC inside the Dallas.
New Virtual assistant mortgage is unquestionably one of the best positive points to services users and you can licensed individuals.