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Another benefit of getting a mortgage loan for a Veteran. » Mortgage Masters Group

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My husband and I have our VA loan through Wells Fargo. We are being transferred to another state soon and were interested in buying a second home there. I know you can only have one VA loan mortgage at a time, so I was wondering if we could switch the mortgage on our existing home to a conventional type mortgage in order to get another VA loan for the second home?

Because most VA loans are pooled in mortgage securities that require a 25 percent guaranty, the effective no-downpayment loan limit on VA loans tends to be four times VA’s maximum guaranty amount. Loans for more than the effective no-downpayment loan limit generally require downpayments.

In this post, we’re going to go over 5 steps to get mortgage ready for a VA loan. These work for both purchase loans and a cash-out refinances, and hopefully these preparatory steps can help save you time and money. That’s what we’re all about here at Low VA Rates. To help and benefit veterans with the VA loan process.

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The mortgage is the mortgage secured on a specially adapted or modified residence purchased or remodeled in part with a grant from the Department of Veterans Affairs. If you had VMLI on a housing unit and you sold or otherwise disposed of that housing unit, you may obtain VMLI coverage for a mortgage loan on another eligible housing unit.

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Social Security and veterans. In short, your benefit isn’t guaranteed by simply being an American citizen. Another benefit misconception to consider is that what you put into the system isn’t.

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The mortgage is the mortgage secured on a specially adapted or modified residence purchased or remodeled in part with a grant from the Department of Veterans Affairs. If you had VMLI on a housing unit and you sold or otherwise disposed of that housing unit, you may obtain VMLI coverage for a mortgage loan on another eligible housing unit.

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