Agencies out of Pros Issues (VA) money is actually a nice-looking home loan financial support option for qualifying home buyers. While an active-obligations army member, a seasoned otherwise an enduring lover, you can enjoy lower financial cost, limited settlement costs and you can virtually no deposit. Virtual assistant finance including cannot have home loan insurance coverage (even though you will be required to spend the fresh new Va money fee).

Although not, Va fund try stricter than many other version of home loans whenever it comes to occupancy requirements. Like, not as much as most situations, you should transfer to your house inside two months out of closure. Whilst Va has no a particular rule for how long you must live-in your residence, most Virtual assistant lenders intend for you to use the house because the much of your residence for at least one year.

When you find yourself curious if you can utilize your own Va mortgage so you can purchase an investment property, this new Virtual assistant occupancy standards certainly will establish an obstacle to those agreements.Continue reading→