Maxed out my va loans. Bought 1st home in 2013 for 248k. Rented out and bought 2nd in 2020 for 320k using remainder. was able to refi this home conventional as rental in jan 2022 before rates shot up. This freed up my VA loan again. Rented 2nd house out with 1 yr lease so i qualified for 3rd VA house that closed on in March of 2022 for 465k and 3 percent rate. I put 0 down on first 1 and 5% down on the 2nd two. As a vet with no disability you save a fortune on the VA funding fee by putting 5% down. took the funding fee from 3.6% to 1.65% of purchase price. VA told me that i am all maxed out on using VA loans now unless i were to sell all 3 homes. I have 3 single family homes now all with interest rates of 3 percent or less with a total value of 1.1 million dollars and mortgages totaling 900+k. plan on paying these mortgages for next 30 years and not sell. I make 65k a year and a 2.0 gpa high school education. Haven't even touched the gi bill yet. This is why I try to convince anyone who doesn't know what they want to do after high school to do 4 years in the military. Benefits and a (tech job in air force) set me up for life.

Really good info, brother. That being said, as you being a former Marine, I am disappointed that you did not do this in crayon. Opportunity missed.

Thank you for your service.

Semper fi my man. Great video, thank you for the info 🤙🏾

Thanks man. Gonna check out your lessons and advice.

Thank you so much for providing this information 🙏🏾🙏🏾💯

Thank you for sharing your knowledge with us.

Jimmy is the real deal! Thank you for your service. Your videos are extremely educational. I sent Jimmy a question and he took the time to provide me with a thorough answer. Thank you for providing me a response. It is greatly appreciated!

Thank you so Much bro I’m literally in the same process and needed this info

Eye opener and awesome video. Thanks.

Thank you for this info Jimmy!

Thank you brother. Semper Fi.

3:06 thats hilarious. The edits are great! I plan on buying my first residence then renting it out.

My husband is a mortgage loan originator and he’s been watching your videos on ‘C/P’ loans for Conventional and VA loans. Great job on making the explanations simple to follow and understand.

Wow! Just what I needed to know since I am planning to keep my home in NY and moving to another state. Thank you.

Hi I just used my VA loan to purchase a $517,900 home in Houston, we will more than likely stay in a year and then rent the place out. Also the close was exactly 30 days great benefit for veterans

Great information, semper fi Marine!!!

Thank you!!!

Thanks Jimmy!!

APPRECIATE YOU JIMMY, HOOAH...!

I so appreciate your videos. As a new real estate agent with a VA Buyer client, this has helped me as we navigate during this sellers market and how to make offers more attractive and how the loans work . You are awesome!

Took a class with Jimmy he is a wealth of knowledge on VA loans ,

Awesome video!

Awesome. Thanks

Thank you for information

Nice video bro!

Thanks for the Info....SEMPER Fi!!!

Holy crap! I didn't know about this either! Bought my house with VA loan 2 years ago. Been thinking of moving to a different area. Didnt know i could use my current house as a rental.

Great video. Very informative. Another little know fact about VA relates to the funding fee for active duty. If you have a rating that fee is waived or if you have Purple Heart. Semper Fi and thanks for the video.

I appreciate your help. Trying to figure out the best option for buying a home for my family in this crazy market! About to launch a business and looking in the 200k price point. Liked, subscribed! And now commented!!! Awesome content. Semper Fi brother.

What great information!

Great stuff!

Good information thank you

Hi Greater Good! yes, they sure could. Assuming of course it makes sense and your able to lower your rate and save money. May be tough in this market.

Great vid.

Ooh Rah!! Thank You!!

Ye no question. Great information and education!!! Tyvm sir.

Great information

Great job 👏

Semper fi bro thank you

Iam going to have a home in every state with this information THANKS 😊

Very helpful

Jimmy Vercellino = 💯

TY4SHARING

Jimmy, at 0.07 "Corps" is misspelled. Happy Birthday tomorrow! Oohrah.

Thanks

Dude thanks!

Great information Jimmy and you explained it very clear and understandable. Are you able to use this loan secret by renting your home to a VA or other type of Organization instead of a renter/family? Thank you

Very interesting

Semper Fi brother

I love it.

Cool video

Great information but did know this "secet" already. 😊

you can have one VA home loan. but you han have multiple homes purchased with the VA home loan. my VA homeloan has reached the maturity level and i fulfilled the contract of the VA home loan. i can now get a new home and rent this home out. or sell it for a $400,000 credit. because i bought it while in the service and during the recession.

You literally described how I used my VA loan and can whole heartedly agree, it has done a lot to grow my wealth. I ended up refinancing my first loan out of VA to avoid having to bring 50k to closing for my second. Question for you would be how many times can I use my VA loan? Thanks for all you do!

Hi great video and very informative I am wondering about the comparison though. I've been hearing that even though VA loans don't require a down-payment, why is it considered better if someone else puts in an offer with a down payment? Isn't that basically the same thing, the seller will the money for the home regardless. Semper - Doc

My husband and I have learned that not all VA loans are equal. Depends on the mortgage company/bank you use!! We made a massive mistake using the one we did. They have lied to us about so many things that I have learned about in the last year and a half since we bought our home! Ready to give up the home and throw the towel in on dealing with these company!

Hi Jimmy. Great video thank you! Do you know anything about a Dream Weaver VA loan?

Can you do a video on how to buy a property with a VA loan and transfer the title to an LLC using a quit claim deed?

$647,200 limit and $970,800 in high cost counties as of 2022🇺🇸

Very good information. Only part is your not accurate on the 548 cap it depends on the county you are trying to but the house in. When I bought my second one my number was 690 but you also have to account for the 25 percent debt that retaining the property that gets added in

You are funny. I follow.

Can you refinance a VA loan and change the loan to another type like conventional for example.Then be able to use your VA loan as if its brand new. In NJ its easy to have nearly the entire 548K tied up in the mortgage. I am probably going to do a cash out refinance but I'm always interested in VA loan strategies for obtaining a second investment property.

Great information brother, thank you 🙏 quick question. If I currently have a VA Loan in Pennsylvania but will be relocating to Texas next year, could I built a home in Texas using a 2nd VA loan? While my house in PA sales?

Wow never knew this

My family and I just purchased with a VA loan about 6 months ago and are thinking we should downsize for personal reasons. However the VA has a one year occupancy requirement from what I understand. Are we able to qualify for a second VA loan prior to fulfilling the one year occupancy stipulation on our current home to build a smaller home that will be completely built shortly after we we meet the one year occupancy requirement? We would like to rent out our current home and intend to occupy it later. When we initially purchase this home we were planning on growing our family however things have recently changed. Would appreciate your input.

Semper Fi!

I need to buy a duplex here in Missouri.

Semper Fi! I am just using my VA Home Loan on a beautiful home! It’s 550k so I guess there is a cap?

In your example about renting out the 1st house I thought you would have to refinance the loan and have 20-25%to be able to use it as a investment property am i incorrect on that? Located in texas

Thank you so much for that great info. However my question is what if I want the opposite situation where I have a VA loan for my primary home already but I want to use a VA loan to purchase another home that I want to rent up. Can I do that or what would be the best strategy. Thanks for your time and please let me know if we can set up a phone call.

Great info thanks for sharing. Question: As a disabled vet, do I get the funding waived on subsequent va loans? Assuming all previous loans have been paid off at time of sale of course.

hey do you have ppl here in FL you can connect us with that are just as knowledgeable as you? youre awesome

The Trip hazards is so dumb when one still goes to the field nd is surrounded by Trip hazards its hard to get a home in todays market with a shitty VA home

Does that limit include “high cost areas “ like Southern California, New York City, etc?

nice

Can the VA loan office cover a loan on a tiny home in St.petersburger fla on a lot that also has a house. It would be a mother in law suite? Would like to know how and who to talk to about this. Thank You

I am trying to understand the VA home loan process a little better as I am not educated enough on this. thankn you for this info but unfortunately I am looking for how to get approved while working on debt. but still not understaanding what the mortgage lending process is about. thank you

I’m confused, does this apply to spouses with 100% eligibility? My mom is about to purchase a new home and it is the first time (since dad died of service related causes ), does this apply to her too? Do you mean she should purchase at max amount as not to get capped lower at 558;000?

Can you do the opposite of this and buy a rental property after buying a primary residence and staying in the primary?

Ooh Rah!

Will the VA still considered your home your primary resident if you can only live in it 1 week a month because of travel. I'm a veteran and spend most of the year traveling out of the country on leisurely trips.

Hey there, so I bought a house on a VA loan with ocean views in a tourist area and can get quite a bit of income from AirBNB. I was thinking of renting out the main floor that has a separate entrance while living in the main house on the top two floors. Do I have to wait a year to do this or can I start doing it right away? Also, after 1 year of living in this home could I also do airbnb on both the main area and downstairs if I buy another home? Would the lender see this airbnb rental income and not include this against DTI or would I need to convert this house to a rental property first?

Hey Jimmy thanks for the video. Quick question: Can a veteran based in TX who currently has conventional cash out loan (took cash out 12 months back) do a rate and term refinance to a VA loan?

What if your primary home (home A) is above the $548K cap and you want to move to the bigger home B. Can you still use the second VA loan at the same time?

If you are using VA loan properties as rental units how are you transferring the loan or the property title to an LLC to limit liability on a residential (4 unit) property? Also...if you can, should you do an LLC for each separate unit or 1 for all 4 units?

So here is a question? If I can have 2 VA loans out on a home, and I rent the one home to another individual, but that home is still in my name, and I go buy another home with a VA loan, doesn’t the county only give me a tax abatement on 1 home, not 2?

How long do you have to live at your primary residence before you're allowed to sell it

I'm a Vet, in Chapter 13, discharging in March. But I do have a 653, and now income. My haven't had much help. Are there any programs that will work?

I used my VA loan to purchase a fourplex. I used $645k of the $981k entitlement. I was trying to find out if I can use the reminder to purchase another fourplex and it looks like I can as long as I put 25% down on the difference in the home price and remaining entitlement.

Hello we’re having a house built in Texas and plan on using my husbands VA loan. We originally signed a pre approval for 3.7 interest on a 319k home and planned on mortgage payments being around 1889.00 a month but now am afraid we won’t be able to get the home due to rising interest rates. Are there any programs that can help veterans with assistance to bring the payments to a budget we can afford. I’m assuming payments will be around 2550.00 a month or more with interest rates rising. I’m so bummed. 😔

How do I use my VA loan to build a house on property I already own?

Is there a loophole to be able to rent your new va home before the 1 year occupancy rule?

Question, so would I still qualify for a home loan if I have an eviction on my record? I'm currently behind on rent but I'm still staying in the apartment but making payments to the court since I appealed the eviction.

Hey Jimmy I have a question. I have Federal Student debt that I am working on to bring current to close on a VA loan. When I log into the website to make payments it says none are needed I am Assuming since Biden extended the student loan forgiveness. If I am currently making payments each month would I be able to bring my student loan to current even though no payments are needed? Would I be able to purchase a home when my student loan may be current but not being reported to CAVIRS due to The loan forgiveness? Thanks for any advice.

is there a better VA home loan company than Veterans United? Plus I am looking for a $530K home loan but i was told my DTI is too high and i dont have money to pay off debt. What can i do?

My husband is a Navy Veteran and we had a home built via VA loan, in 2017 in NC for $218,000 now our house is worth $355,000. We want to down grade but the market for a newly built smaller home in NC is about $285,000. What would you do?

Thanks for the video Jimmy. I have some questions. I currently have VA loan 451k renting it out. Looking to buy another property for 580k, I'm located in Colorado. Trying to understand entitlement thing. I only have 97k left on entitlement. Would it be possible I can purchase new one for 580k and pay the difference of 25k down payment which would be 145k down payment? Or would you recommend I refinance my current VA home to conventional to free up my entitlement? For current VA loan I'm in the processing getting LLC done and want to know if it's okay to transfer title to LLC. Heard they can call loan due. Also in the process of getting trust done my LLC can go to the trust. Assuming I can quitclaim the deed into an LLC after closing. Looking through most of comments my other questions got answered. For my next property I would like to go through your lender. Thank you for your time.

Question my son is the Marines station in Hawaii can he buy a home in florida while he is station in Hawaii thanks

Thank you for your service, I just sold my home in Dallas that I had a VA loan on. I’m moving to the DC area and the cost of housing is outrageous. I’m looking at homes around 900K. Am I understanding it correctly that with@ 100K down I can get a VA loan on the remaining 800K?