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VA Loan Tip #11: You might like the idea of buying a rental property, but that's not what VA mortgages are for. If you buy a home with a VA home loan, you must certify that you intend to live in the house.

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National Averages for December 20, 2014

30 YEAR FIXED

3.375% Rate
3.474% APR

15 YEAR FIXED

2.75% Rate
2.93% APR
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Certificate of Eligibility
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VA Loans and Rental Properties

VA Loan Tips

The idea of buying a building intended as a rental property is sound--but VA mortgages aren't intended for this purpose. If you buy a home with a VA home loan, you must certify that you intend to "personally" live in the house.

There are naturally exceptions made for houses that are in the building stages when the sale is made, but the general rule is you must occupy the house within sixty days of the loan closing. The occupancy requirement applies to all VA guaranteed loans except one; the Interest Rate Reduction Refinancing Loan or IRRRL. For these loans, the veteran is required to certify that the dwelling was previously occupied as the home.


More VA Loan Tips

  1. Entitlement to a VA Home Loan
  2. Advantages to the VA Guaranteed Loan
  3. About VA Loans with Adjustable Rates
  4. Getting Pre-approved for Your VA Loan
  5. Eligibility for a VA Home Loan Guaranty
  6. Your Discharge May Affect Your Chances
  7. I Lost My DD214
  8. For Those Who Already Have a VA Loan
  9. Renewable VA Certificate of Eligibility
  10. VA Loan Partial Eligibility
  11. VA Loans and Rental Properties
  12. VA Loans and Your Debt Ratio
  13. Uses for Your VA Loan
  14. About the VA Funding Fee
  15. Co-signers on VA Loans
  16. The Veterans Benefits Act of 2004
  17. VA Home Loans and Fair Housing Laws
  18. VA Pre-approved but Can't Find a House
  19. VA Loan Foreclosures
  20. Better Credit for Better Eligibility
  21. Help for VA Home Buyers
  22. VA Loans to Purchase Farms
  23. VA Loans for Properties Outside of the US
  24. VA Home Loans After a Borrower's Death
  25. Selling a VA Loan Property
  26. VA Mortgage Payments