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OWN HOME VA LOAN CAN I RENT IT AND PURCHASE A CONDO

I current have a VA loan but my husband and I are thinking about buying a condo and renting the home out. We would not use the VA for the purchase of the condo so is this leagal to do?

  • August 06 2012 - US
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Answers (5)

What Wayne said!
  • August 06 2012
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Obsoultely NOT, VA loans are for owner occupied properties onlyand being when youapplied for the VA your application says "primary residence" on it ...good luck!
  • August 06 2012
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Are you buying in the same state? Is this going to be a second home. There is not enough info in your question but if you'd like to contact me and your in the NY area give me a call
Melissa Schneider

  • August 06 2012
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Check with your lender, You should be fine.
  • August 06 2012
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It is legal and you would have qualify to carry both mortgage payments including condo fee.
  • August 06 2012
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