How Many VA Home Loans Can You Have?

Understanding the VA home loan program is crucial for veterans and active-duty service members seeking to purchase or refinance a home. One common question that arises is: How many VA home loans can you have?

Contrary to some misconceptions, there is no limit to the number of VA loans you can have in your lifetime. However, there are specific eligibility requirements and entitlement limits to consider.

VA Loan Entitlement

VA loan entitlement is the amount the Department of Veterans Affairs guarantees lenders on VA home loans. Eligible borrowers are entitled to a certain dollar amount of guaranty, which is typically enough to secure a loan without a down payment.

The VA loan entitlement is based on the VA funding fee and the county loan limit set by the Federal Housing Finance Agency (FHFA). As of 2024, the standard VA loan limit for most counties is $548,250, although it can be higher in high-cost areas.

Using Remaining Entitlement

If you’ve used your VA loan entitlement to purchase a home and want to buy another property, you can still use your remaining entitlement. This allows you to have multiple VA loans simultaneously, as long as you meet the eligibility requirements.

However, using your remaining entitlement may require a down payment if you exceed the county loan limit or have an outstanding VA loan balance.

Additional Considerations

• Occupancy Requirements: VA loans are intended for primary residences, so you must certify that you intend to occupy the property.
• Loan Assumption: You can transfer your VA loan to another eligible borrower, but you may still be liable for the loan unless released by the VA.
• Refinancing: You can refinance a VA loan with a VA Interest Rate Reduction Refinance Loan (IRRRL) or a VA cash-out refinance.

Ultimately, the number of VA home loans you can have depends on your remaining entitlement and meeting the program’s eligibility requirements. Working with a knowledgeable VA loan specialist can help you navigate the process and make informed decisions about your homeownership goals.