Profile picture for Romero7

Currently I have a conventional and FHA loan on two different homes, will I qualify for a VA loan?

  • October 17 2012 - Boston
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Answers (2)

Profile picture for pmzsteve
You haven't provided nearly enough information to answer your question. It will mainly be based on your income to debt ratio and your credit. But having an FHA and conventional loan in it of itself does NOT disqualify you for VA. You need to speak to your lender who can look over your financials and credit to make that determination. 
  • October 17 2012
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You must occupy the property for which you will finance with a VA loan. In addition you must have a certain amount of equity in each of your current homes and even then it's very likely you will not be allowed to purchase another home, already having 2 loans. 

I would contact a local VA lender and they can answer these questions quickly and easily.
  • October 17 2012
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