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If you received a veterans loan for your first home, but then refinanced with a conventional loan. Rent the first home out and buy another home with a conventional loan… when it comes time to refinance, can you get another veterans loan? Or is this a one-time deal?

3 Thoughts on If you receive a veterans loan for your first home?
  1. Reply
    Roger N
    August 9, 2011 at 9:20 pm

    You can get a Vet loan anytime for the residence that you live in. It’s not a one time thing.

  2. Reply
    Jim M
    August 9, 2011 at 9:27 pm

    Just keep in touch with the local VA office to verify your eligibility.

  3. Reply
    in the biz
    August 9, 2011 at 9:54 pm

    When you got your original VA loan, you would have received a Certificate of Eligibility and Determination of Benefits from the VA for whatever amount is available for the region that you live in. Upon refinancing, the original VA loan was extinguished. However, until you apply to have the amount reinstated with the VA (your lender will usually submit this for you), you would not have anything available (or a greatly reduced amount if you didn’t exceed the available amount). You can do this any number of times but the availability must be determined for each loan. Just because you refinanced to a conventional loan doesn’t mean that the amount goes back up to the original benefit amount.

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