FHA, VA & Conventional Related / VA Loans

Can Veterans be Repeat users?

January 13, 2011 at 8:51 pm By

Rashawn McNeal at Keller Williams called me today asking if her client (a Veteran) can use his VA Entitlement to purchase the home he’s under contract for. He was under the impression he couldn’t because he got a VA loan back in the 1970’s.
Good news is: VA loans can be repeated time after time under certain conditions.
Since this particular client owns/paid off the home he purchased with a VA loan, as long as he continues to own that home, he can have that entitlement “restored” ONCE so he can buy another home. Condition is he needs to have paid off the loan. (i.e. free & clear )
However . . .watch this . . if he no longer owned that home he purchased using his VA entitlement, then he can have that entitlement restored time after time without restriction.

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