Aloha,
I just got an excited call from a client that learned after 20 years they are eligible to buy a property using Va financing. The only problem is they already own a home that was bought using conventional lending. On the surface it would seem to be full speed ahead, but after investigation we learned that they didn't have 30% equity in their current home. If this is the case you have to qualify the client counting both mortgage debts even if there is to be a renter. In other words the rental income can not offset the mortgage on the rental property. I had to deliver the bad news which is the least favorite part of my job. Mahalo for stopping by.
That's All Folks
The Va Loan Hero
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