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I currently have a VA loan, can I get a second VA loan in another state?

I live in Ohio, but spend half my time in Florida. I plan on moving there permenatly in 32 months when my youngest child graduates. 
  • July 20 2013 - US
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Answers (5)

Yes, when you move to Florida, you can purchase a home with a 2nd VA loan as long as it is your primary residence. To discuss eligibility and what your max ZERO down payment is, message me for the calculation.
  • September 24
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VA purchase must be a primary residence only. You can apply for a 2nd hHome via a conventional Fannie/Freddie loan with as little as 10% down, however.
  • July 23 2013
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I have found a property, its a foreclosure, what are my financing options, this will be a second home till I get moved to FL.
  • July 23 2013
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VA loans are only for primary residences that you will occupy shortly after closing.  You can have two VA loans at one time, given you have "bonus" entitlement left, and it meets the VA guides for allowing the use of bonus entitlement.  There is a simple calculation for bonus entitlement, and it has much to do about how much entitlement you are currently using with your current VA loan.

Again, the purpose of a VA loan is for primary residence, not second home, so unless you plan to move to Florida as your primary residence, I would say that the VA may not be an applicable route.

There are other routes, such as second home purchase, which may be more applicable.  As an expert in Florida mortgages, with an extensive VA loan back ground, please feel free to contact me directly for assistance.  Good luck!
  • July 21 2013
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You should definitely contact the VA administration
I do know that there is a limit on the total amount  of VA loans per person which varies by zip code
  • July 20 2013
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