Use your VA Loan Benefit to refinance your \u00a02, 3 or 4 Unit property<\/p>\n
We offer VA Loans to refinance multi family homes (2-unit, 3-unit or 4 Unit, aka Duplex, Triplex, and Fourplex). \u00a0 The maximum loan to value is 90%, and you must occupy one of the units. \u00a0 There is no Mortgage Insurance on VA Loans, and the rates on VA Loans are very competitive compared to Conventional loans. \u00a0 Plus – The VA Loan can go up to 90% on a 2-3 or 4 unit property. \u00a0 Conventional loans are limited to 80%.<\/p>\n
** We also offer VA Loans to purchase 2-3 or 4 unit homes – Contact us direct for more info.<\/p>\n
You can use the rental income of the rented units to help qualify.\u00a0This will determined by using existing tenants and their actual rent rolls, or a projected rent schedule from the VA Appraisal. \u00a0 Our VA underwriters will allow you to use 75% of those rents towards your income for qualifying purposes. \u00a0\u00a0The VA does require that the Veteran has experience managing rental properties. \u00a0Call us to see if you qualify under the VA rules.<\/p>\n
Call us if you are interested in refinancing your multi unit property, and we can help you with the numbers. You might be surprised what you would qualify for! \u00a0 866-900-2342 toll free direct.<\/p>\n
Utilize your VA Home Loan Benefit for a VA Loan to maintain your investment at good terms. \u00a0Here are the 2015 VA Loan Limits for high cost California Counties:<\/p>\n
$625,500 – Alameda, Contra Costa, Marin, San Francisco, San Mateo<\/p>\n
$625,00 – San Benito, Santa Clara,<\/p>\n
$625,500 – Santa Barbara<\/p>\n
$625,500 – Santa Cruz<\/p>\n
$625,500 – Los Angeles, Orange County,<\/p>\n
$603,750 – Ventura<\/p>\n
$562,350 – San Diego<\/p>\n
$615,250 – Napa<\/p>\n
$561,200 – San Luis Obispo<\/p>\n
$463,450 – Alpine<\/p>\n
$520,950 – Sonoma<\/p>\n
$502,550 – Monterey<\/p>\n
$477,250 – Nevada<\/p>\n
Washington State VA Loan limits:<\/p>\n
$517,500 – King, Pierce, and Snohomish Counties<\/p>\n
All other California and Washington state counties are at $417,000 for the 2015 VA Loan Limit. VA Loans are available with zero down payment for VA 2, 3 or 4 plex purchase and refinance up to the respective county VA Loan Limit. For VA Multi Unit loans over the county VA Loan Limits, 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).<\/p>\n
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