While you can rent out your VA home,you do have to make sure you meet all of the requirements. At the very least,make sure that you refinance out of the purchase VA loan first. If you still have that loan,you can rent out your home. If you refinance out of it,though,you are free to do what you want with the home.
People also ask
Can a veteran rent out a house with a VA loan?
For example, a veteran who buys a home with a VA loan and then gets transferred overseas can rent out the home and still refinance that existing mortgage based on prior occupancy. How long do you have to live in a house with a VA loan?
Can a VA loan be used to buy a vacation home?
The VA wants their mortgage program to get veterans and active military into houses, not for people to get vacation homes or investment properties. VA occupancy requirements state that current VA homeowners must occupy their home within 60 days of securing financing and must continue to reside in their current home.
What is a VA home loan?
A low-cost home loan backed by the U.S. Department of Veterans Affairs ?also called a VA home loan ?is more than just a way for veterans to afford homes. The loans can also be used to help veterans buy rental homes that they can make some extra money from as landlords.
Does the VA streamline loan require you to live in the home?
The one thing the VA streamline loan doesn require is that you live in the home as your primary residence. You certify that this is the case when you purchase a home with VA financing, but not with the VA IRRRL program. This means you can rent the home out and not be in violation of any VA rules.