Can You Use a VA Loan Twice or More? Here's What to Expect (2024)

At a Glance

VA loans are not a one-time benefit. Veterans and active-duty service members can use their VA loan benefits twice, three, four or more times. This article explores the guidelines and processes, helping you maximize this valuable opportunity to use VA loan benefits more than once.

Whether it's a need for more bedrooms, storage space, or even a backyard for the kids to play in, eventually, the house that used to fit two newlyweds comfortably becomes cramped beyond belief, and so begins the search for the new perfect home.

Often called "moving up," this process can present obstacles as families try to save up funds for a traditional down payment.

Fortunately, a fantastic benefit of the VA loan program is the ability to purchase with no money down, meaning service members and Veterans could bypass this common barrier to homeownership.

Can You Use a VA Loan More than Once?

There is no maximum or limit on how many times you can use a VA loan. You can use a VA loan once, twice, three times or seven. As long as you have remaining entitlement, you typically always have the option to obtain another VA loan.

Veterans United has even worked with a handful of Veterans on their 9th VA loan. If you're ready to check your remaining entitlement, a trusted home loan specialist from Veterans United can assess your situation and guide you through your next homebuying journey.

Verify your VA loan eligibility (September 13, 2024)

What Is Entitlement and How Is It Used?

The key to using your VA loan twice or more is entitlement. Veterans and active military members who meet the program's service requirements have what's known as VA loan entitlement. VA entitlement is a specific dollar amount the VA promises to repay to a lender if the Veteran defaults on the loan.

Qualified borrowers have two levels of entitlement - basic and bonus. Whenever a Veteran purchases a home, they apply some or all of their entitlement to the loan. The VA typically guarantees a quarter of the loan amount, meaning borrowers will normally use a quarter of their available entitlement.

Entitlement is a concept that even confuses people in the mortgage industry. For a more in-depth look, we've broken down VA loan entitlement you can fully understand your hard-earned benefit.

The bottom line is that when it comes to "moving up" the homebuying ladder, current VA homeowners may be able to capitalize without having to sell their current residence.

» CALCULATE: Calculate your VA Loan savings

How Can I Use My VA Loan Benefits Again?

The VA home loan is a lifetime benefit. Eligible service members and Veterans can seek to restore their full entitlement once the original loan is repaid in full or use their remaining entitlement to rent out their first home and purchase again with no down payment.

Having more than one VA loan at the same time is certainly possible, but Veterans will still need to meet the VA's occupancy requirements.

Learn more about how to reuse your VA Loan benefit: Restoration of Entitlement: How to Reuse Your VA Loan Benefit in Full

Restoring Entitlement After Selling

VA borrowers looking to move up are more commonly going to sell their current home rather than try to keep it. Generally, buyers don't have to worry about how much entitlement they have left in these cases. That's because Veterans who sell their home and pay off the mortgage in full can seek to have their full entitlement restored.

For example, let's say you purchase a home for $225,000. Since the VA insures a quarter of the loan, you've likely got $56,250 of VA entitlement tied up in the property. Once you sell the property and the lender is made whole, you can file paperwork to get back the $56,250 of entitlement used on that first purchase. At that point, Veterans looking to "move up" can do so with their full entitlement intact.

For qualified buyers, that means borrowing as much as a lender will extend without the need for a down payment.

Using Remaining Entitlement for Multiple VA Loans

Remember that Veterans apply a portion of their entitlement when buying a home. Depending on how much is left over, it's actually possible to retain and rent out that first home and purchase again using a second VA loan.

One of the most common examples of this is when an active service member purchases a home at one duty station and then has to PCS to another. But there are some unique restrictions and requirements to utilizing this leftover VA loan entitlement.

See What You Qualify For

Answer a few questions below to speak with a specialist about what your military service has earned you.

ByChris Birk, Vice President of Mortgage Insight

Chris Birk is the author of “The Book on VA Loans: An Essential Guide to Maximizing Your Home Loan Benefits.”An award-winning former journalist, Chris writes about mortgages and homebuying for a host of sites and publications. His analysis and articles have appeared at The New York Times, the Wall Street Journal, USA Today, ABC News, CBS News, Military.com and more.More than 300,000 people follow VA Loans Insider, his interactive VA loan community on Facebook.

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