Hello all Veterans!  And THANK YOU for your service!  Many of you are aware that you can purchase a home with your VA loan benefits.  But did you know that you could purchase  “income” property too? 

Most veterans don’t, but then again there are a lot of real estate agents that don’t know you can either!

But I recently had a client, Tom, who did just that! AND, here’s how he did it.

  • First he got a copy of his DD-214 (I know you’re a veteran if you know what that is) the lender has to know that you are entitled to this benefit.
  • Must be owner occupied.  That was easy because he will be living in one of the units.
  • Loan limit in San Diego County is $580,750 (it changes every year).  Actually you can borrow more but the ZERO down payment is only for loans up to $580,750.  After that Tom was required to put down 25%, so he put $52,062.50 down ($789,000 - $580,750 x 25% = $52,062.50).
  • Then he hired me, a real estate agent who is also a Veteran too.   Having used my VA benefit several times I understand, in depth, the “quirks” that go along with a VA loan.

Your VA Loan is a very valuable benefit and it can be used not only for single family homes but condos, townhomes, 2-,3-,4-plex.  

If you have any questions please contact me today!  I am happy to help any of my fellow Veterans!