Can I take a second VA loan?


Yes, you can. Veterans are allowed to take a second VA loan and there are no limits as to how many times the VA program can be used. There are, though, some differences on how the program is used for the first or second time.

Even if the veteran or active duty officer have used their full entitlement, as long as they satisfy the basic requirements (that is, if you have a Certificate of Eligibility), they could take a VA mortgage loan for a second or subsequent time. The main difference comes in the cost of the VA mortgage - the VA funding fee will be 3.3% for second-timers, if no down payment is made.

Also, if you have already had a VA loan, you could refinance it into a new VA mortgage for a 0.5% funding fee.

If you have any questions regarding second time VA loans and requirements, you could talk to VA loan specialists online, or by phone.

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