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Can You Have More Than One VA Home Loan At The Same Time?

It’s not common, but yes, there are scenarios that allow VA borrowers to have two or more VA loans active at the same time. The typical situation is when a VA homeowner has been reassigned to a new duty station and they’ve decided to convert their primary residence into a rental.

The determination of eligibility is based on a calculation of Guarantee:

Here’s how the math works, assuming you’re buying in San Diego County with a loan limit of $562,350

  • $562,350 X .25% = $140,587.50 Maximum Guaranty
  • $140,587.50– $36,000 (entitlement you have used on the other VA property) = $104,587.50
  • $140,587.50 X 4 = $418,350

If you already have one VA loan, the maximum zero down payment VA loan that you can qualify for in San Diego County is $418,350. You can purchase a property above this amount as long as you provide a down payment. Each county in California has its own VA loan limit, so the calculations will differ.

Please contact Chad Baker with any questions on using your VA eligibility to purchase your first or second home.