Can I have more than one VA loan??
The answer is YES, you can have more than one VA loan at a time. Certain restrictions apply.
When you have a VA loan and you want to use your entitlement to get a second one, this is called 2nd tier eligibility.
The amount you can get on the 2nd loan will depend on:
-The amount of entitlement used on the first loan
-The maximum loan amount for the county you will be purchasing in
-The amount of the loan on the 2nd one.
There is a complicated equation that has to be done to see the maximum loan amount you qualify for.
Please let me know if you need my assistance in calculating this amount for you.