VA Loans: How to Guide For Buying a Mult-Family Home Using Your VA Loan in 2023

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Jimmy Vercellino - MLO Specializing in VA Loans

10 ай бұрын

WE SERVE VETERANS NATIONWIDE
#valoans #vahomeloan #veteran #homebuying #mortgage #veterans #valoan #multifamily #mortgage #veteran
Email Me For Anything VA Loans: jimmy@valoansforvets.com
Everything you need to know about credit scores and VA loans.
Contact me:
1. Check your eligibility and receive a personalized evaluation of your VA Loan: connect.valoansforvets.com
2. Email me at jimmy@valoansforvets.com
Instagram: / jimmyv____
Facebook: / valoansforvets
Jimmy Vercellino, Mortgage Loan Originator/Regional Residential Mortgage Director NMLS 184169 at First Western Trust
Corporate NMLS 477166
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This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates and programs are subject to change without notice. All products are subject to credit and property approval. Other restrictions and limitations may apply. Equal Housing Lender.

Пікірлер: 32

@usfrogmann 10 ай бұрын

Been in the airforce for two years.I’ve always watched your videos since and your advice has helped me just close on a home at 20. Godbless Jimmy.

@JimmyVercellino 10 ай бұрын

Bro - deeply grateful for the kind words man. Brings great joy to my heart to hear you say that 💯💪 see you at the top !

@kelvindowe4467 10 ай бұрын

Thanks Jimmy, I asked and you delivered!!

@JimmyVercellino 10 ай бұрын

💯💪

@deantewhite1591 Ай бұрын

Thank you so much for this video. Great info. But how am I suppose to get experience and prove it if this will be my first time buying a multifamily unit?

@JimmyVercellino Ай бұрын

Good question. This only applies if you're wanting to use the market rents to qualify towards the mortgage.

@souledout3239 10 ай бұрын

Great info Jimmy. Your service continues, thank you 🇺🇸

@JimmyVercellino 10 ай бұрын

🇺🇸🇺🇸🇺🇸💯💯💯

@iForgotDaPeas 8 ай бұрын

Definitely need a 620 and really leverage of knowledge after that🔥 I’ll definitely be in touch Hooah

@JimmyVercellino 8 ай бұрын

Bless you my brother! I'm here to be a resource!

@Pr0jectATLAS 2 ай бұрын

So how would you recommend I get experience managing rental properties if this is my first time ever using my VA Home loan.

@JimmyVercellino 2 ай бұрын

Good question - you could always consider hiring a property. Thank you

@danajohns29 3 ай бұрын

One thing you forgot to add is that if you don't have renter experience you can also get a experience property manger.

@JimmyVercellino 3 ай бұрын

Thanks!

@j.b8728 10 ай бұрын

Jimmy, I get a lot of "thank you for your service ", which I do appreciate, but if I want to buy a Townhouses or Condominium with my pre-approved VA loan I get we don't approve VA loans. My realtor states that I may want to consider a conventional loan , especially since I'm putting some down payments. I just wanted to vent. I appreciate what you're doing, and in 2024, I look forward to working with your staff

@JimmyVercellino 10 ай бұрын

My pleasure! And when you're ready..I'll be ready to serve you. I ALWAYS want my Veterans to consider their VA Home Loan. You can make a case when putting down 20% on a VA Loan to look at conventional as well becuase there is no VA Funding fee. However, if you have a VAD then IMO I conventional is not worth considering becuase in my opinion the rates can be higher. Hope that helps! Appreicate you.

@OpenBiolabsGuy 3 ай бұрын

What if you don't want to buy a multi-family property to rent out to other people, but you want to buy a property for your extended family to move into? For example: one unit for yourself, your spouse and kids, one for your parents, and one or two for your siblings and/or cousins and their spouse and/or kids?

@JimmyVercellino 3 ай бұрын

that could be done for sure.

@JohnMackey-y8p 4 күн бұрын

I saw a floorplan for a 2 bedroom/2 bath house with an in-law suite. This physically laid out with the intention 0f an adult caring for an elderly parent, the kitchen/sitting area is missing an oven, but has a sink, microwave and fridge under the counter, there is a separate bedroom and bathroom. Would this be considered a single-family home for permits or a legal 2 family? As a rental, would you suggest separate utilities if it needs a separate permit, or would a permit make separate utilities required? The front door is positioned so a nonstructural wall can be used as a partition dividing the two living areas.

@JimmyVercellino 4 күн бұрын

Hey J-Mack - my opinion would be that it would be considered a single family home. Any rental properties I own I always have in the name of the tennant.

@Livelife_2_themax 4 ай бұрын

What if you fiance is a property manager and has a rental property?

@JimmyVercellino 4 ай бұрын

Good question. If they're going to be on the loan that would work. However, if not, VA would not allow it. Keep in mind when a Veteran / Non Veteran are on a loan together that aren't married there will be a 12.5% down payment requirement.

@robmyers1956 10 ай бұрын

What can you substitute for experience if you dont have any experience, but have all the other requirements

@JimmyVercellino 10 ай бұрын

Good question. I would say a strong letter of explanation stating on your intentions and how you plan to care for / service the property could work.

@soldieroflove247 10 ай бұрын

If you qualify just based on your income do you still need the 6 months of reserves? Also if you don’t have landlord experience can you use a property management company to substitute for landlord experience?

@JimmyVercellino 10 ай бұрын

Really good questions. You'll always need 6 months. But having a property manager can certainly help with the landlord experience.

@darius8l881 4 ай бұрын

Dp you need experience if you qualify with your own income

@JimmyVercellino 4 ай бұрын

Using your income, and not reliant upon the rents, you would not need expereience. You would need the reserves however.

@darius8l881 3 ай бұрын

@@JimmyVercellino thank you for your response. Can i buy a 4 plex that has a commercial space if i occupy one of the units so its 4 apartments with a commercial space on the first floor and its zoned as commercial