VA 2-4 Unit Loans

VA 2-4 Unit Loans

Using VA Loans to purchase Tennessee 2, 3 or 4 Unit properties

We offer VA Loans to finance the purchase of a Tennessee multi family home (2-unit, 3-unit or 4 Unit, aka Duplex, Triplex, and Fourplex).   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 requires Zero Down payment up to the Tennessee VA Loan Limit, 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 be 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.   The VA will require that the Veteran have a high probability of success in managing the rental units,  this can be proven from prior experience managing rental properties or a well qualified buyer (liquid assets, good income, great credit profile, etc).

Call us if you are interested in purchasing a Tennessee multi unit property using VA Financing, and we can help you with the numbers.   You might be surprised what you would qualify for! 866-435-6553 toll free direct.

You can also utilize VA Loans to Refinance your current 2, 3 or 4 unit property. Call us for more info.

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.

VA Loans are available with zero down payment for VA 2, 3 or 4 plex purchase and refinance up to the Tennessee VA Loan Limit of $458,850.  For VA Multi Unit loans over the Tennessee VA Loan Limit, we can utilize a down payment or equity in the property to satisfy the 25% VA Guarantee requirement, this basically amounts to 25% of the amount over the county loan limit (not counting the VA Funding Fee).

Call the VA Loan Pros at VanDyk Mortrgage today at 866-435-6553 to get started, or apply online at mcdonaldmortgage.com

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