Most VA home loan agreements stipulate that you occupy the house for at least12 months. At the end of that 12 months,you檒l likely be able to rent the house to a tenant,even if they檙e not affiliated with the military. The only way you can rent out a property immediately after buying it is to buy a multi-family property or duplex.
People also ask
Can I rent out my VA loan home?
There are many reasons why a borrower who owns a home purchased with a VA loan would consider renting out his or her property. Active duty military members who are being reassigned to a new base, for example, might want to keep the home but can occupy it for the length of the new tour.
Can I buy an investment property with a VA loan?
VA loan rules require the borrower to certify they will use the property as their primary residence. No investment properties or summer homes may be purchased with a VA loan. But there is an alternative to selling the property.
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.
Can a veteran refinance a VA loan to buy a house?
The VA Interest Rate Reduction Refinance Loan (IRRRL) is one of two refinances available through the VA. Thanks to looser guidelines, veterans may be able to use this refinance to keep their home and buy another with a new VA mortgage. Can I rent out my house if I have a VA loan?