I used my VA Loan back in 1998. Can I apply for a VA loan again?

Asked by andrew.hirst1, Braintree, MA Sat Jul 7, 2012

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Danielle O'B…, Agent, West Roxbury, MA
Mon Jul 22, 2013
I am an area real estate agent/broker that mainly works with VA buyers and helps moderate a Home Buying and Selling group on facebook (see link below). I think John's answer is spot on with one addition. If you have used the entitlement, paid off the loan, and still own the home (and want to purchase a second or vacation home) you can have your previously entitlement restored once; but, If you have used the entitlement, paid off the loan, and sold the home you can have your entitlement restored as many times as you want.

I do not believe the VA office will be able to help with rates and costs but they will with funding fee questions and your Certificate of Eligibility (COE). Rates and costs vary by mortgage company/bank and the VA will not quote these. And, while you can go through the process of gathering your COE on your own or through the VA portal, many mortgage contacts are able to do this for you as well. They will also be able to walk you through funding fee information. If you are a disabled veteran you are exempt from this fee. Make sure you are working with a team (lender, attorney, agent, etc.) who are proficient with VA loans. There are some ins and outs, and unique appraisal guidelines that not everyone may be aware of.

Best of luck!
0 votes
Christine Mo…, Agent, Wilbraham, MA
Mon Jul 9, 2012
Yes. But check out all of the other types of loan options
0 votes
, ,
Sun Jul 8, 2012
Hi Andrew,

Thank you for your service.

Yes you can. A lender will need to pull your COE (certificate of Eligibility) to see how much entitlement you have available. If you sold your previous home and paid off the loan, we need to make sure your full entitlement was restored. If you still own the home, we need to figure out how much of your second tier entitlement is available to determine how much of a home you bay without a down payment.

Please feel free to contact me for more information or help with your VA mortgage.
You can also find more information on my VA mortgage website by clicking the link below.
0 votes
Ron Thomas, Agent, Fresno, CA
Sat Jul 7, 2012
First of all; thanks for serving.

Now, go into your local VA office and talk to them; that's what they are there for.
Ask them about re-instating your entitlement.
Ask them about the Funding Fee.
and about the Interest Rate and the Closing costs.
They are the best source of this information.

Good luck and may God bless
0 votes
Kenneth Segu…, Agent, Cambridge, MA
Sat Jul 7, 2012
Yes you can and if you need any assistance buying or selling your home give me a call. I always answer the phone. http://www.SeguraRealtor.com .
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