An alternative choice is to find a multi-nearest and dearest assets together with your Va financing. Brand new Virtual assistant allows you to buy a house with to five units, definition you could potentially purchase a duplex, triplex, or fourplex. Yet not, you need to decide to reside in one of many equipment as the much of your residence.

Rent Your residence Once 1 year

After you’ve lived in your property to have a year, you can book your Virtual assistant financing-financed assets. Although not, keep in mind that you simply will not have the ability to buy an alternative house or apartment with a Va financing up to you’ve restored their entitlements on the earliest mortgage.

Re-finance The loan

There are a few alternatives for refinancing the Va loan to change your house on the a residential property. For instance, if you are a working-responsibility representative and also you need certainly to go on to yet another place, you are able to buy yet another number one quarters. In this case, instead of offering your dated possessions, you could potentially sign up for an excellent Virtual assistant Streamline Re-finance, also referred to as an excellent Virtual assistant Interest rate Cures Home mortgage refinance loan (IRRRL). Read more