As a veteran and newer loan officer, I love your content. One thing though, the VA doesn’t take 75% of rental income, it allows you to use the rental income off of a lease to offset the mortgage payment, but not use it for qualifying income. Chapter 4, II, n
@JimmyVercellino8 ай бұрын
Thanks for watching.
@user-pg8dn4vo4f11 ай бұрын
Thank you very helpful! We appreciate what you're doing to educate folks like me that want to get started!
@JimmyVercellino11 ай бұрын
My pleasure! Thank you for watching and commenting.
@JimmyVercellino11 ай бұрын
Thanks for watching! Remember the scenario referenced above is an example. It's important to remember that these numbers may vary from Veteran to Veteran depending upon purchase price and entitlement amounts remianing. If you have specific questions you're welcome to email me at jimmy@valoansforvets.com or reach out via my website at www.VALoansForVets.com
@guitarwithsonandad640211 ай бұрын
Great video, so good I had to share it.
@JimmyVercellino11 ай бұрын
Love it! Appreicate it!!
@Dlowr72 ай бұрын
“Let’s say you want to buy a home for $200k”. Brother trailers are more than 200k today.
@JimmyVercellino2 ай бұрын
Depends on where you live 💯💪
@davep509511 ай бұрын
Thank you for the video Jimmy I will share it with a friend
@JimmyVercellino11 ай бұрын
My pleasure Dave! I appreciate that - the more we know, the more we grow!
@El_Soldado_61911 ай бұрын
Appreciate the content Jimmy!
@JimmyVercellino11 ай бұрын
All love sir! thank you!
@hitman14214 ай бұрын
I recently applied for a VA loan for a second home. We lived in this home for 4 years. Later the lender came back and said I used my full entitlement from the VA. How is this the case and is there a work around?
@JimmyVercellino4 ай бұрын
Hey Chris - can we set up a time to chat so I can learn more about your scenario? If so, pls email me at jimmy@valoansforvets.com
@luisrivera531411 ай бұрын
Can I do that in Puerto Rico? How? Thanks for your hard work to educate the veterans and active duty!!!
@JimmyVercellino11 ай бұрын
My pleasure Luis, and thank you for the kind words! Yes, you could do this in PR. However, you'd need to find a lender that could personally assist you there as I don''t have any investors that will lend there.
@alec310711 ай бұрын
Awesome video man. Do you know what the mortgage limit is in San Diego and where do we find that info?
@JimmyVercellino11 ай бұрын
Yes sir, SD County Conforming Loan Limits is right at $977,500 if I can personally assist you or answer any other questions please feel free to reach out at jimmy@valoansforvet.com
@1MHUnit9 ай бұрын
Great video! One question I have using your situation is, say you have not rented Home A yet because you are still there and in the process of moving to your next duty station. Can you still use 75% of that project market rental income to offset the mortgage payment so we don’t have to qualify with two mortgages when applying for Home B? Or do I have to wait until I have a renter in place before applying?
@JimmyVercellino9 ай бұрын
Good question. VA does not require you having the renter in the home before applying. But it would likley need to be done in conjunction with the purchase. So for example, let's say that your scheduled to close on Jan 15th and your renter is moving in or around that time that would be ideal plus a copy of the executed lease along with the deposit. Hope that helps!
@Smpbumper711 ай бұрын
That email didn’t work
@JimmyVercellino11 ай бұрын
Really? confirming it's jimmy@valoansforvets.com
@primetimepropertysolutions208911 ай бұрын
How would a Veteran use there VA Loan like this here in Los Angeles Ca?
@JimmyVercellino11 ай бұрын
Good question - becuase LA's purchase prices are so much higher than the rest of the nation the scenario I describe in the video would likely not work. However, if you could find something for say 500K followed another home aquistion of 500K or so. LA county is $1,089,300 so you've got about that much to work with to deploy on various homes keeping in mind you still have to qualify by way of income and credit of course.
@hollywoodclipp10 ай бұрын
Hey Jimmy a couple questions say I’m stationed in Norfolk va and I wanted to use my va loan to buy a multi family in TX and then not having used up all my buying power then by another multi family in Norfolk can I do that and make the Norfolk prop my primary
@JimmyVercellino10 ай бұрын
Hey Hollywood - you'd have to buy the multi family home in the same location you live in becuase VA requires that you live in one of the units.
@wilvany11 ай бұрын
So every 2 or 3 years you can sell the house also and make profit and the house and keep buying more house and flip them ?
@JimmyVercellino11 ай бұрын
In theory yes. However, keep in mind that there's no guarantee this can be done as their are market conditions that could impact you being able to do so. Hope that helps - jimmy@valoansforvets.com