If I have already obtained one VA Loan, can I get another one?
Yes, your eligibility is reusable depending on the circumstance. If you have paid-off your prior VA Loan, and disposed the property, you can have your eligibility restored again. Also, on a 1-time basis, you may have your eligibility restored if your prior VA Loan has been paid-off, but you still own the property. Either way, the Veteran must send the Veterans Administration a completed VA Form 16-1880 to the VA Eligibility Center. To prevent delays in processing, it's advisable to include evidence that the prior loan has been fully paid, and if applicable, the property was disposed. A paid-in-full statement from the former lender or a copy of the HUD-1 settlement statement must be submitted.
US Lending Company | Address: 2280 Bechelli Lane, Redding, CA 96002 | NMLS 129988 | Licensed in CA, FL, OR, CO, AZ, ID, WA, TN, TX, GA, MT & NV
Copyright 2022 American Pacific Mortgage Corporation. All information contained herein is for informational purposes only and, while every effort has been made to ensure accuracy, no guarantee is expressed or implied. Any programs shown do not demonstrate all options or pricing structures. Rates, terms, programs and underwriting policies subject to change without notice. This is not an offer to extend credit or a commitment to lend. All loans subject to underwriting approval. Some products may not be available in all states and restrictions apply. Georgia Residential Mortgage Licensee.
Licensed by the Dept of Financial Protection and Innovation under the CRMLA. Licensed under the Oregon Consumer Finance Act. The Department maintains a recovery fund to make payments of certain actual out of pocket damages sustained by borrowers caused by acts of licensed residential mortgage loan originators. A written application for reimbursement from the recover fund must be filed with and investigated by the department prior to the payment of a claim. For more information about the recovery fund, please consult the Department's website at www.sml.texas.gov
Blog Policy: The views, articles, postings and other information listed on this website are personal and do not necessarily represent the opinion or the position of American Pacific Mortgage Corporation.