VA 2-4 Unit Loans
Using VA Loans to purchase Fresno 2, 3 or 4 Unit properties
We offer VA Loans to finance the purchase of a Fresno 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. These require Zero Down payment up to $2.0M for qualified Veterans and Active Duty Military with full VA entitlement available. The 2023 Fresno VA Loan Limit only applies to Vets and Active Duty Military with partial VA entitlement available. You may still qualify for a VA Loan up to $2.0m with a down payment sufficient to reach the VA Guaranty requirements. You must live in and occupy one of the units to qualify for VA Financing on a 2, 3 or 4 Unit home.
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 Fresno multi unit property using VA Financing, and we can help you with the numbers. You might be surprised what you would qualify for! 866-900-2342 toll free direct or call/text 760-752-4480.
You can also utilize VA Loans & VA Jumbo Loans to Refinance your current 2, 3 or 4 unit property. Please call 760-752-4480 direct to see if this might work for you.
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 $2.0M, we are not limited to the Fresno 2023 VA Loan Limit of $726,200. VA Multi Unit loans for Vets with partial VA entitlement are available over the 2023 Fresno VA Loan Limit, we can utilize a down payment or equity in the property to satisfy the 25% VA Guarantee requirement, this is based on a formula that considers the Fresno County loan limit, your remaining VA Entitlement and purchase price of your new home.
Call the VA Loan Pros at VanDyk Mortgage today at 866-900-2342 to get started, or apply online with us here.