2 VA loans at once??5/24/2019
Good morning and happy Friday!
This coming Monday we celebrate Memorial Day, a day to remember and honor people who have passed while serving in the United States Armed Forces.
Today, a VA-eligible borrower with full entitlement has enough VA backing for a loan of $484,350 in most U.S. counties. With the average VA loan around $210,000, most veterans have some entitlement remaining after using their home loan benefits. Though the VA requires that the loan be paid in full and the house disposed of before it will restore entitlement, there is a one-time exception to this rule.
In the case of military reassignment, this exception can come in handy. If you have enough entitlement remaining, you can use the remaining VA home loan benefit without selling the previous house or paying off the loan. Of course, you still have to qualify with income and credit.
(404) 791-5995 cell
(404) 510-3469 cell