Multiple VA Loans

If I have already obtained one VA Loan, can I get another one?

Yes, your eligibility is reusable depending on the circumstance. If you have paid-off your prior VA Loan, and disposed the property, you can have your eligibility restored again. Also, on a 1-time basis, you may have your eligibility restored if your prior VA Loan has been paid-off, but you still own the property. Either way, the Veteran must send the Veterans Administration a completed VA Form 16-1880 to the VA Eligibility Center. To prevent delays in processing, it's advisable to include evidence that the prior loan has been fully paid, and if applicable, the property was disposed. A paid-in-full statement from the former lender or a copy of the HUD-1 settlement statement must be submitted.

What’s a VA Loan Partial Entitlement?

VA entitlement isn’t a one-time benefit. If you haven’t used your full loan entitlement, you may be able to use the remaining portion for a second VA loan in the future. This is called a VA partial entitlement and can allow you to purchase another home without selling your first one. This is common with military members making a PCS.

An important thing to remember with partial entitlements is that they’re often not enough to cover a home’s full price. When this is the case, your lender may require a down payment to offset this risk.

You should also prepare for a higher VA funding fee on your second loan. The exact amount will depend on your down payment size, but it will generally fall between 1.4% and 3.6% of the loan total.