Example. A veteran utilized the his entitlement to get a property for $453,100 from inside the a non-highest costs state within the Maryland. Before work moving to help you GA, the guy refinanced the loan so you’re able to a non-Virtual assistant financing. The borrowed funds try paid in complete; not, the guy nonetheless possessed the house. The guy now desires to pick property for the GA and you may enforce getting a single-date repairs. It is you can easily.
Realize about Virtual assistant financial qualifications standards to have a great Virtual assistant lead otherwise Va-recognized financing. See how to request a certificate out of Qualification (COE) to show the bank which you be considered considering the service history and you may obligations standing. Keep in mind that getting a good Va-backed home loan, you will also have to see the lender’s credit and income financing criteria for resource. The straightforward answer is sure, you’ll be able to purchase an effective foreclosed domestic using a good Virtual assistant mortgage, for as long as one to assets suits the newest VA’s minimal requirements.
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