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How to use the VA loan more than once?

There are two major things you want to look at:

number one, the lender you’re working with,

and secondly, your Certificate of Eligibility, otherwise known as a CoE.

Now, going back to your lender, if you’re wanting to utilize a VA loan more than one time, you want to make sure your lender gets it.

We get told often that buyers have been denied or told that they can’t use a VA loan again when they’re going to use it for their second time. Or let’s say they want to keep a home as a rental and then utilize a VA loan again.

They’re told they can’t do it. That’s not the case.

In reality, you can utilize a VA loan more than one time, and in fact, you can even have multiple outstanding VA loans – meaning that you can buy a home, rent it out, and then go buy another home and have multiple VA loans at the same time.

Pretty incredible.

So, number one is you want to work with a lender who knows the answer to that is yes.

So, you want to make sure when you’re working upfront, ask your lender, “Can I utilize a VA loan more than one time? How do I use it a second time?”

If there’s any hesitation there or some questions to if it can be done, that might be a sign they need to find someone who can deal with it.

Now, let’s say you work with a lender who does get it. Then the second thing to move on to is looking at your Certificate of Eligibility.

This is the document from the VA that outlines your entitlement, and it gives us as lenders the numbers we need to compute things so that we can tell you how much eligibility you have.

For an example, if you’re wanting to keep a home and rent it out as a VA loan and go use it a second time and have two or even three outstanding VA loans, it helps us calculate the numbers needed to tell you, “Hey, here’s how much zero percent down eligibility you have,” or “Here’s how much money you might need to bring to the table because you have multiple outstanding VA loans.”

There are just some calculations there. If you want to learn more on that, we have some nice videos. If you look up “VA loan limits explained,” good video on helping explain some of those limits. And in fact, if you want to learn more about the Certificate of Eligibility as a whole and more on the VA loan, we have a really good crash course and master class on the VA loan.

But the key here is knowing that the Certificate of Eligibility is the document that’ll help us calculate how you can go use that VA loan a second, third, fourth, and even fifth time down the road.

So, number one, work with a lender who gets it, and number two, pay heavy attention to Certificate of Eligibility.

If you’ve got a good lender, they’ll be able to explain it to you and work it through for you.

My name is Evan Kaufman, your VA loan originator. Let’s hope you go out there and win a home with the VA loan.

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2024 VA Home Loan Guide

VA Guide

This short guide is designed to provide you the most important details of the VA Loan in an easy-to-use format. Print it out and read at your leisure.

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