VA 2-4 Unit Loans

VA Loans can be used to purchase 2, 3 or 4 Unit properties

We offer VA Loans to finance the purchase of a multi family home (2-unit, 3-unit or 4 Unit, aka Duplex, Triplex, and Four-plex).  This can be a great investment strategy, as you can live in one of the units and rent out the other units.  This awesome opportunity that requires Zero Down payment up to the VA Loan Limits for your county, and that you live in and occupy one of the units to qualify for VA Financing.

You can use the rental income of the rented units to help qualify. This will determined either by using existing tenants and their actual rent rolls, or a projected rent schedule from the VA Appraisal.   Our VA underwriters will allow you to use 75% of those rents towards your income for qualifying purposes to offset the Mortgage Payment.   The VA does require that the Veteran has a high probability of success in managing the rental units,  this can be documentation of prior experience managing rental properties or a well qualified buyer (liquid assets, good income, great credit profile, etc).

You can also utilize VA Loans to Refinance your current 2, 3 or 4 unit property.   You must live in one of the units,  call direct to find out more.

Call us if you are interested in purchasing a multi unit property, and we can help you with the numbers. You might be surprised what you would qualify for – give us a call at 866-900-2342 toll free direct or call/text Brian direct at 760-752-4480.

We do suggest that you utilize a good Realtor when searching for a multi-unit property, as they can help with the property search, cash flow projections, and VA property eligibility.

You can utilize your VA Home Loan Benefit for a VA Loan to make your next home a true investment.

VA loans are available up to $2 million.   Veterans with full VA Entitlement are eligible up to the full $2m with zero down payment required.  Veterans with a partial charge against VA Entitlement are also eligible up to $2m VA loan amounts, however a down payment will be necessary.   This is calculated by a formula using your remaining VA Entitlement and the VA county Loan Limit.

Here are the 2023 VA Loan Limits for high cost California Counties:

** for calculation of VA Loan down payment for Veterans with partial VA Entitlement available

STATE COUNTY 2023 VA LIMIT
CA ALAMEDA $1,089,300
CA CONTRA COSTA $1,089,300
CA LOS ANGELES $1,089,300
CA MARIN $1,089,300
CA MONTEREY $915,400
CA NAPA $1,017,750
CA ORANGE $1,089,300
CA SAN BENITO $1,089,300
CA SAN DIEGO $977,500
CA SAN FRANCISCO $1,089,300
CA SAN LUIS OBISPO $911,950
CA SAN MATEO $1,089,300
CA SANTA BARBARA $805,000
CA SANTA CLARA $1,089,300
CA SANTA CRUZ $1,089,300
CA SONOMA $861,350
CA VENTURA $948,750
WA KING $977,500
WA PIERCE $977,500
WA SNOHOMISH $977,500

Most other California and Washington counties are at $726,200 for the 2023 VA Loan Limit.  VA Loans are available with zero down payment for VA 2, 3 or 4 plex purchase and refinance up to $2m without regard to the respective county VA Loan Limit.   The VA County loan limit only applies to Veterans that have a current charge against VA Entitlement.  However they are still eligible for VA Jumbo Loans up to $2m with a corresponding down payment.   VA Multi Unit loans are also available up to $2m loan amounts.  

Here is a complete list of California Counties and their VA Loan Limits

 

Call the VA Loan Pros at VanDyk Mortgage today at 866-900-2342 to get started,  or Get started on your VA Loan online.  Or call/Text Brian at 760-752-4480.

2-unit, 3-unit, 4 unit, duplex, triplex, four-plex, two-plex, three-plex, quad-plex, VA, VA Lender, VA Jumbo, VA Direct Lender