While a VA Loan can be used to purchase a home in which the borrower intends to live, it is not approved for use toward investment property. A VA home loan can not be used to purchase property solely for investment purposes, such as a rental home. When borrowing a VA home loan, the borrower must certify that they intend to occupy the home. This requirement is the same for all VA guaranteed loans, except for the IRRRL (Interest Rate Reduction Refinancing Loan).

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An IRRRL has different occupancy requirements and the borrower must certify only that they previously occupied the home. Start a IRRRL now.

Some exceptions to the rules are made, of course. Particularly when a home is purchased during the building stage, but generally speaking, VA home loans require the borrower to occupy the home they purchase.

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