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Tagged with: va loan
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Brian G
4 months ago
I owner occupy a Duplex that I purchased using my VA Loan. I'd like to now use an FHA Loan to buy a Triplex. Based on what I am charging my tenant I am extremely confident that I will be able to get that same amount as rent from another tenant when I move out of that unit. Problem is a "well meaning friend" has told me that I can't count the potential rental income of that unit unless I purchase a triplex that's at least 100 miles away!

I can see if i already had an FHA Loan and I was trying to get another FHA loan on top of that where this restriction would come in, but I don't have an FHA Loan?

Can anyone verify this, perhaps with a link?
I owner occupy a Duplex that I purchased using my VA Loan. I'd like to now use an FHA Loan to buy a Triplex. Based on what I am charging my tenant I am extremely confident that I will be able to get that same amount as rent from another tenant... (more)
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Steve Gaylo
a year ago
I purchased a small 45-year-old condo four years ago using a VA loan. At that time the monthly condo maintenance fee was a very reasonable $135 a month (a major reason I bought the property). Since then, with very little being done in the way of repairs to common property, the maintenance fee has risen about 75%. I just received a letter from the condo board advising me that, due to its need to budget for future repairs and other expenses, the monthly fee may be raised to as high as $600. Since I am 73 years old and existing on a small pension, there is no way in H that I can absorb such a burden. Are there any resources available to help deal with such a situation, the VA, my mortgage lender, anyone?
I purchased a small 45-year-old condo four years ago using a VA loan. At that time the monthly condo maintenance fee was a very reasonable $135 a month (a major reason I bought the property). Since then, with very little being done in the way of... (more)
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338
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1
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A Curious User
a year ago
I am semi retired, I have rental property, I watch my grandchildren, I help a friend with her mentally challenged son, I have a part time border and I do small event planning and catering...everyone pays me in cash...is there an FHA program that does SIVA loans?
I am semi retired, I have rental property, I watch my grandchildren, I help a friend with her mentally challenged son, I have a part time border and I do small event planning and catering...everyone pays me in cash...is there an FHA program that does... (more)
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A Curious User
2 years ago
Will those figure into my DTI for buying a house? Thanks
Will those figure into my DTI for buying a house? Thanks
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668
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1
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A Curious User
2 years ago
My COE says that my basic entitlement is $36,000. The COE states "additional entitlement is available for most loans in excess of $144,000. In such cases, the entitlement amount is 25% of the VA loan limit for the county where the property is located." The one-unit limit for my county is $417,000. Does this mean that my maximum loan entitlement amount is 25% of $417,000 or $104,250?
My COE says that my basic entitlement is $36,000. The COE states "additional entitlement is available for most loans in excess of $144,000. In such cases, the entitlement amount is 25% of the VA loan limit for the county where the property is... (more)
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A Curious User
2 years ago
I was pre-approved and is currently in escrow. I thought the other property already has been foreclosed but the title has been pulled and my name is still listed as the owner. The home is still vacant.
I was pre-approved and is currently in escrow. I thought the other property already has been foreclosed but the title has been pulled and my name is still listed as the owner. The home is still vacant.
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907
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2
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A Curious User
2 years ago
I am currently an active duty service member and used some of my eligibility to buy my first home. I received a permanent change of station to another city and want to know whether I can buy another home there utilizing my remaining eligibility.
I am currently an active duty service member and used some of my eligibility to buy my first home. I received a permanent change of station to another city and want to know whether I can buy another home there utilizing my remaining eligibility.
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2.8k
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A Curious User
2 years ago
I am an eligible veteran and want to purchase a home in Georgia. I am currently overseas working for a military contractor and want to buy a home where my wife and children currently live. I read that the VA requires the home be owner occupied and wanted to know if there were any exceptions to this rule for family members.
I am an eligible veteran and want to purchase a home in Georgia. I am currently overseas working for a military contractor and want to buy a home where my wife and children currently live. I read that the VA requires the home be owner occupied and... (more)
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1.6k
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3
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A Curious User
2 years ago
My husband died from a service connected disability and I'm currently looking to purchase a home. I want to know if I am eligible to use his VA home loan benefits.
My husband died from a service connected disability and I'm currently looking to purchase a home. I want to know if I am eligible to use his VA home loan benefits.
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4.0k
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3
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A Curious User
2 years ago
I am a retired veteran and found a single family home that I'd like to buy using my eligibility. The listing agent told me that the property for sale sits on 12 acres of land. I have been informed that the VA guidelines would allow me to do this with VA financing. Does anyone know for sure if this is allowed?
I am a retired veteran and found a single family home that I'd like to buy using my eligibility. The listing agent told me that the property for sale sits on 12 acres of land. I have been informed that the VA guidelines would allow me to do this... (more)
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