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Can I use my VA Benefits to purchase a vacation home?

By Laura Filip

Real Estate Agent with RE/MAX UTOPIA , Serving all of Texoma TREC # 0488771

June 08, 2017 06:48 PM

Can I use my VA Benefits to purchase a vacation home?

U.S. Army, U.S. Marine Corps, U.S. Navy, U.S. Air Force, U.S. Coast Guard, National Guard

More VA Purchase Loans

Thank you for your Service.

When considering the purchase of a house to make a home using your Veterans Benefits can be a great choice.

Can you use your VA loan benefits to purchase a second home or vacation home? The answer to this is no you can not.

VA Loan program use must be for a primary home.

Veterans Administration will help Service members, Veterans, and those that are considered eligible surviving spouses become homeowners.

As part of their mission to serve , they provide a home loan guaranty benefit and other housing-related programs to help Veterans buy, build, repair, retain, or adapt a home for their own personal use and occupancy.

The VA Home Loan programs are provided by private independent lenders, such as one of the local banks, you can reach out the them and ask what VA loan programs they offer you and mortgage companies as well that are ready to help you find the perfect program that will work best for you. VA guarantees a portion of the loan for your house to make a home, enabling the lender to provide you with more desirable terms.

Here are a few of the programs that are available for you to use

Purchase Loans and Cash-Out Refinance:

Interest Rate Reduction Refinance Loan

Native American Direct Loan (NADL) Program

Adapted Housing Grants

You can visit the Government web site at http://www.benefits.va.gov/homeloans/

For more information or give us a call we are here to help you find the perfect house to make a home.

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Can I use my VA Benefits to purchase a vacation home?

Gloria Todor

Media, PA
Nathan Gesner

Cody, WY
Mega Team Real Estate

San Mateo, CA
Frank Rubi

Metairie, LA
Laura Filip

Whitesboro, TX

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Groups:: Realtors®; Texas Real Estate; Outside Blogs; Blogs Happen...; Vets serving Vet's real estate needs

Tags:: va loan programs; thank you for your service; laura filip; texoma homes all about texoma; texoma real estate agents; can i use my va benefits to purchase a vacation home

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Rainmaker
2,544,316

Laura Cerrano

Feng Shui Manhattan Long Island - Locust Valley, NY

Certified Feng Shui Expert, Speaker & Researcher

You're going to makes people's lives a lot easier with this information around what they can do with what they have and that's what it's all about. Right?

Jun 08, 2017 11:29 PM

Lou Ludwig

Boca Raton, FL

Rainmaker
605,930

Laura Filip

RE/MAX UTOPIA , Serving all of Texoma - Whitesboro, TX

What can we do for you today?

Thank you Laura , the VA loan programs can be a great resource for those that have Served . Have a blessed night

Jun 09, 2017 12:37 AM

Lou Ludwig

Boca Raton, FL

Rainmaker
1,144,375

Kat Palmiotti

Grand Lux Realty, 914-419-0270, kat@thehousekat.com - Monroe, NY

The House Kat

When I saw the subject line, I thought, "Wow, they can?" That would have surprised me because I thought these loans were just for a primary home. And I see you corroborated my original thinking. Thanks!

Jun 09, 2017 03:23 AM

Melissa Spittel

Westminster, MD
Lou Ludwig

Boca Raton, FL
Laura Filip

Whitesboro, TX

Ambassador
900,590

Mike Frazier

Carousel Realty of Dyer County - Dyersburg, TN

Northwest Tennessee Realtor

I have used my VA loan benefit once and did not think it would work for vacation homes. thanks for the information.

Jun 09, 2017 08:11 AM

Lou Ludwig

Boca Raton, FL
Laura Filip

Whitesboro, TX

Ambassador
857,404

Frank Rubi

Frank Rubi Real Estate, LLC - Metairie, LA

FrankRubiRealEstate.com

Laura, Thank You for taking the time to offer information to all our Veterans. I have used my VA benefit for a personal home. I highly recommend to all to use it. I agree that you can not use for a vacation home.

Jun 09, 2017 04:23 PM

Lou Ludwig

Boca Raton, FL
Laura Filip

Whitesboro, TX

Rainmaker
3,231,993

Lou Ludwig

Ludwig & Associates - Boca Raton, FL

Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Laura

Thank you for sharing the information on VA benefits.

Good luck and success.

Lou Ludwig

Jun 09, 2017 07:34 PM

Laura Filip

Whitesboro, TX

Rainmaker
3,231,993

Lou Ludwig

Ludwig & Associates - Boca Raton, FL

Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Laura

Congratulations on the feature for an outstanding post.

Good luck and success.

Lou Ludwig

Jun 09, 2017 07:44 PM

Laura Filip

Whitesboro, TX

Rainmaker
325,506

John Wiley

Right Move Real Estate Group- EXP Realty - Fort Myers, FL

Lee County, FL Real Estate GRI, SRES,GREEN,PSA

I just attended a CE class on VA loans. Your point was hammered away several times. It must be for the purchase of an home the buyer will occupy.

Thanks

Jun 10, 2017 06:49 AM

Laura Filip

Whitesboro, TX

Rainmaker
605,930

Laura Filip

RE/MAX UTOPIA , Serving all of Texoma - Whitesboro, TX

What can we do for you today?

John Wiley thank you for stopping by to say hello. Hammered away very interesting thought Boom love to work with Those that have served and their families. Have a blessed day.

Jun 10, 2017 06:59 AM

Rainmaker
557,189

Maggie Dokic | Miami, FL | 305.81.HOUSE (46873)

eXp Realty LLC - Miami, FL

GREEN, CDPE, SFR, Pinecrest | Palmetto Bay |

Laura this is good info for your military home buyers. Thanks for posting.

Jun 10, 2017 07:23 AM

#10

Rainmaker
134,382

Melissa Spittel

Coldwell Banker Residential Brokerage - Westminster, MD

"Achieving Results Together "

VA buyers (especially first-time buyers) need our knowledge and expertise. I find they don't typically understand the terms of a VA loan, and the required parameters of eligible homes.

Jun 10, 2017 06:41 PM

Laura Filip

Whitesboro, TX

#11

Rainmaker
605,930

Laura Filip

RE/MAX UTOPIA , Serving all of Texoma - Whitesboro, TX

What can we do for you today?

Yes Ma'am, working with an agent who understands what to look for in house is important.

Jun 10, 2017 07:07 PM

#12

Rainer
433,009

Kimo Jarrett

WikiWiki Realty - Huntington Beach, CA

Pro Lifestyle Solutions

Invaluable information for veterans and agents who are not knowledgeable about VA real estate questions.

Jun 11, 2017 12:55 AM

#13

Rainmaker
521,276

Nathan Gesner

American West Realty & Management - Cody, WY

Broker / Property Manager

I hear veterans on investment boards asking if they can use their VA loan to purchase a long-term rental property. The purpose of the VA loan is to help veterans get into a home, not build a rental business.

Jun 11, 2017 05:28 AM

Laura Filip

Whitesboro, TX

#14

Rainer
398,342

Dörte Engel

RE/MAX Leading Edge - Bowie, MD

ABC - Annapolis, Bowie, Crofton & rest of Maryland

Dear Laura,

VA has to draw the line somewhere. This is a pretty nifty loan program for those, who deserve it. It is not meant to be a cheapo way for people to flip homes by calling them second homes or some such thing.

Jun 15, 2017 09:09 PM

#15

Rainmaker
868,298

Jan Green

Value Added Service, 602-620-2699 - Scottsdale, AZ

HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Great post! I figured the answer was no. I just helped a veteran. I don't get very many of them as I'm on the opposite end of town as Luke AFB. Good for you for serving them!

Jun 20, 2017 06:36 PM

#16

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