Video Transcript:
Many believe their VA loan only buys a single family house. The system is designed to let you purchase an entire building with four homes inside. I’m David Ghazaryan. The core rule is quite simple. You must promise to live in one of the units, making that property your primary home. Here’s how lenders help you qualify for a bigger loan. They take the rent from other units and add seventy-five percent of it to your income. This extra rental income makes your financial profile look much stronger now. You can afford a duplex or a four-unit building, not just a house. Official rules don’t ask for extra cash, but most lenders do. You must prove you have savings for six months of the home’s total payment. The complete structure is detailed in the full article on my website. See my social media platforms for more. Find all links in the description below.
Read Blog Here: https://www.iqratemortgages.com/blog/va-loan-rules-for-a-texas-duplex-or-fourplex
