VA loan ?

Has anyone ever used a VA loan to purchase a rental property? I was considering it and was wanting to get some advice from people who have done it or know someone who has. I know the VA loan guidelines state that the buyer must “intend” to stay in the property within 60 days of buying the home, but I was curiuos if anyone has experience with this.

(1) Are you a veteran?

(2) Do you intend to occupy the property or do you just intend to say that you are going to occupy the property?


Well I’m looking at living in it for a month or two then moving back into my apartment and renting out the house. Yes I am a veteran.

If I remember correctly, VA loans are only available for Owner Occupied properties. But I haven’t delt with VA in a few years. That could have changed.

Cheating the system, never a great idea. I hear a lot of people on here say no one will ever check, etc but I kid you not THEY DO CHECK. A real estate broker I know has had banks that paid him to go to houses and knock on the door and ask who the occupants were just to doublecheck whether or not the place was owner occ or not.

One way to get a VA loan with no restrictions is to buy a VA foreclosure using VA financing. No need to be a Veteran and no need to stretch the truth.

If you use VA to buy a regular house, I would stick to the letter of the law. This thing about “…conspiracy to defraud a Federal Agency” is a real bad way to pursue a career.

Just a suggestion

I’ve never had a VA loan, but rumors are that they are quite strict about their guidelines. I’ve also heard that they have a time period in which you must occupy the house before you can rent it out, and that time period is a lot longer than 2 months.

Banks barely have to make any effort to check to see if you occupy. They get updates on the insurance for the property.

You can’t insure a rental with homeowners insurance, and the bank gets a notice as soon as you change the insurance.

If you know you are buying a rental, go talk to a couple of banks and see about getting a traditional mortgage.