Realtor Recon – Using Your VA Loan Benefits More Than Once
Heritage Home Loans
Heritage Home Loans Spokane, WA
Published on November 2, 2018

Realtor Recon – Using Your VA Loan Benefits More Than Once

You’ve got questions…We’ve got answers. Join us weekly for #RealtorRecon where we talk all things VA Loans. On this week’s episode we’re talking Bonus Entitlement, having more than one VA Loan at a time and using your VA Benefits more than once.

So…Can a VA Loan be used more than once?

Can you have more than one VA Loan at the same time?

You can absolutely use your VA Benefits more than once. There are two ways you can do this…If you own a home and you sell it your benefits are restored. On the other hand, if you currently own a home using your VA Benefits and are being transferred to another base you can still use your Second-Tier Entitlement or Bonus Entitlement to purchase an additional home.

There is a formula that goes into that and there may be a down-payment, but it will still be an advantage to you. Using this benefit your down-payment will likely be less than 20% and it could also save you from having to pay mortgage insurance.

So, yes you can use your VA benefit more than once and if you have two VA loans at the same time you would be using what’s called your Bonus Entitlement. The biggest key with using your Bonus Entitlement is the purchase price of the home has to be over $144,000.

If you have any questions about using your VA Benefits for the first time, using your Bonus Entitlement or using your benefits for a second time please reach out. I’d love to answer any questions you may have.

Thanks for joining us and we’ll talk to you next week on #RealtorRecon!

Heritage Home Loans
Heritage Home Loans Spokane, WA
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