In the ongoing quest to unearth the few remaining 100% home loan options, I wrote a recent article about VA loans called 100% Financing: Focusing on VA.  Since then, I have been asked numerous times whether or not a veteran can have two VA loans.

The answer is yes and yes.  Now I know that the question above refers to two VA loans and not two questions, so let me explain the two yes answers.   As most lenders and veterans already know, a veteran can have two VA loans in succession.  Once a VA loan has been paid off and the property sold, VA eligibility is reinstated and reusable.  On a one time basis, a veteran can even pay off the VA loan while retaining the property.

But the second part of that question is much more interesting.

Can a Veteran Have Two Concurrent VA Loans?

In this down market, it is not unusual for a homeowner to want to buy a new home while waiting until the market improves before selling the current home.  So can the veteran purchase a second using her VA entitlement while retaining the first?

(read the rest of this post)