7 surprising perks of VA loans
This isn't a one-time deal
“A veteran can use VA eligibility more than one time and, in some cases, can have two VA loans on two homes simultaneously,” explains Louise Thaxton, military specialist and branch manager at Fairway Independent Mortgage in Leesville, Louisiana.
Let's say you take out a VA loan and pay it off. You can take out another VA loan to buy another home. There's is no limit on the number of sequential mortgages you can have.
Or you might be living in a VA-financed home and need to relocate for work or family reasons.
You might be able to get a second VA loan to buy a place to live in your new hometown without selling and paying off the government-backed mortgage on your first home.
Qualifying for two VA loans depends on how much "entitlement" — that's the total amount the government is willing to guarantee — you have left on your benefit. But it's something that's routinely done.