VA Loan Secrets: How to Use Multiple VA Loans (at the same time)

[@keithsullivan4682]

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

[@JimmyVercellino]

Thanks for watching.

[@user-pg8dn4vo4f]

Thank you very helpful! We appreciate what you're doing to educate folks like me that want to get started!

[@JimmyVercellino]

My pleasure! Thank you for watching and commenting.

[@JimmyVercellino]

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 [e-mail] or reach out via my website at www.VALoansForVets.com

[@guitarwithsonandad6402]

Great video, so good I had to share it.

[@JimmyVercellino]

Love it! Appreicate it!!

[@Dlowr7]

“Let’s say you want to buy a home for $200k”. Brother trailers are more than 200k today.

[@JimmyVercellino]

Depends on where you live 💯💪

[@davep5095]

Thank you for the video Jimmy I will share it with a friend

[@JimmyVercellino]

My pleasure Dave! I appreciate that - the more we know, the more we grow!

[@El_Soldado_619]

Appreciate the content Jimmy!

[@JimmyVercellino]

All love sir! thank you!

[@hitman1421]

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?

[@JimmyVercellino]

Hey Chris - can we set up a time to chat so I can learn more about your scenario? If so, pls email me at [e-mail]

[@luisrivera5314]

Can I do that in Puerto Rico? How? Thanks for your hard work to educate the veterans and active duty!!!

[@JimmyVercellino]

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.

[@alec3107]

Awesome video man. Do you know what the mortgage limit is in San Diego and where do we find that info?

[@JimmyVercellino]

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 [e-mail]

[@1MHUnit]

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?

[@JimmyVercellino]

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!

[@Smpbumper7]

That email didn’t work

[@JimmyVercellino]

Really? confirming it's [e-mail]

[@primetimepropertysolutions2089]

How would a Veteran use there VA Loan like this here in Los Angeles Ca?

[@JimmyVercellino]

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.

[@hollywoodclipp]

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

[@JimmyVercellino]

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.

[@wilvany]

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 ?

[@JimmyVercellino]

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 - [e-mail]