Buy with your VA benefit
Occupancy and eligible use
The benefit is for a home you intend to live in.
5 minute read
You live there
- A VA-backed purchase loan is for a home you will live in. The same is true when using remaining or restored entitlement.
Source: VA Purchase Loan; VA home loan entitlement and limits
What you can buy
- Eligible uses include a single-family home up to 4 units, a condo in a VA-approved project, a manufactured home or lot, building a new home and buying a home and improving it.
- An owner-occupied 2-4 unit home is possible. It is still your home, not investment financing for a property you will not live in. Confirm property eligibility with your lender.
Source: VA Purchase Loan
Sources
Official material this lesson draws on. Vanguard's explanation is educational; current official requirements govern.