BuyIncomeProperties.com
Your #1 Income Property Resource.

 No Money Down Real Estate Investing Course
Learn How To Buy Income Properties Without Risk, Good
Credit, Money Or Tenants!

Click here for more information

 Welcome to BuyIncomeProperties.com! Visit the Real Estate Investing Forums.


Real Estate Articles 
 
 Real Estate 
 Homeowners
 Second Home
 Success Stories
 Rentals
 Real Estate Q & A
 Real Estate News
 Real Estate Law & Policy
 Money Making Ideas
 Home Improvements
 Tax and Insurance
 Appraisal and Inspection
 Log Homes
 Mobile Homes
 Home Buyers
 Constructions and Home Buildings
 
 Real Estate Investing 
 Foreclosure
 Vacation Home
 Rental Property
 Preconstruction Investment
 Marketing Secret
 Joint Venture
 Land Investment
 Lease Purchase
 Probate Real Estate
 Real Estate Clubs
 Short Sales
 No Money Down Investing
 Flipping
 Fixer Uppers
 Resort Home
 Loft Apartment
 Property Development
 Tax Incentives
 Investing Strategy & Tips
 Real Estate Wholesale Property
 How To Articles
 Subject To
 Real Estate Books
 Apartment Investing
 Commercial Real Estate
 Residential Property
 Hotels and REITs
 1031 Tax Deferred Exchange
 Investment Property
 Real Estate Advanced Techniques
 Trust Deed Investments
 Creative Home Buying
 Wholesale Real Estate
 Real Estate Auctions
 Tax Lien Certificate
 HUD Homes
 Real Estate Regional USA
 Austin, Texas
 Houston
 Colorado Springs
 Florida
 Boise
 Reno, NV
 Landlord
 Rehab
 Market Analysis
 Property Management
 Condo Conversion
 real estate guru
 Bank Foreclosure
 VA Homes
 Buy To Let
 Rent to Own
 Tax Deed
 Stop Foreclosure
 Retirement Planning
 Real Estate Investors
 International Real Estate
 Canada
 india
 United Kingdom
 Real Estate Seminars
 Negotiating
 Condo Hotel Investments
 Partnerships
 NNN Properties
 real estate notes
 Real Estate Education
 REO Properties
 Life Estate
 REIT
 Income Properties
 
 Mortgage and Finance 
 Mortgages
 Mortgage Leads Generation
 Mortgage Leads - Leads Mortgage
 Mortgage Marketing
 Creative RE Financing
 Hard Money Lender
 Debt Consolidation
 Income Property Financing
 Home Equity
 Credit Repair
 Mortgage Tools
 Home Construction Loan
 Commercial Loans
 Owner Finance
 Private Lenders
 Discounted Notes
 Assumable Mortgages
 Seller Financing
 Equity Lines of Credit
 
 Real Estate Pros 
 Real Estate Agent and Broker
 Mortgage Agent and Broker
 Real Estate Marketing
 Real Estate Consultant
 
 Real Estate Resources 
 Mortgage Foreclosure Example
 Mortgage Origination forms
 Property Transfers
 Tenancy Agreement and Form
 Internet and Online
Search


Real Estate : Second Home Last Updated: May 14th, 2012 - 22:24:01


VA Loans Can Fund Second Home Purchases
Buyincomeproperty.com
 
Email this article
 Printer friendly page

Home ownership may be the American Dream, but buying a second home likely comes in the top ten list of dreams for many. One group of Americans now have an easier path to owning a second home. Loans administered by the Veteran’s Administration have recently become available for those seeking to purchase a second home, providing specific requirements are met.

To understand why second home purchases have become so popular, take a look at one of the most common reasons for purchasing a second home. Vacation or retirement homes are arguably the number one reason for buying a second home. While you may be tied to living in a certain area during your working years, you may have a perfect location for those times when you can get away from it all for a weekend or summer vacation. And you may have that same place in mind as the place you’d most like to spend those lazy days of retirement.

It’s not all about luxury. While some people have the misconception that a second home is just a frivolous expense for the rich and famous, the reality is that more people are looking for ways to fund that second home as part of a retirement plan. And many of those are making those plans earlier than ever before.

So how can you go about finding second home financing? There are lots of options available, but one that is a recent additional to the mix is VA financing. As a general rule, VA loans are not available as second home loans. The rule is that VA financing is only available for a primary residence. That means that the second home may very well qualify for a VA home loan, if you’ll be spending more than half of each year in that home.

Remember that there are some definite advantages to be had through VA loans. If you qualify, you can purchase a house with no money down and get excellent rates and terms.

Despite the fact that it is possible to use the proceeds from a VA loan for purchasing that second home, the goal of the VA financing is not to fund real estate ventures, but to help veterans finance quality housing. You’ll have to prove that this is your primary home. At the same time, veterans have as much right as anyone (or more so) to reach the dream of having a second home ready for retirement. You can meet the VA loan requirements by getting ready to move into that home and make it your primary residence in the immediate future.

VA loans are only one option for second home financing. If you currently own a home, you may cash out equity for a down payment, or you may offer your second home as a vacation rental until you’re ready to live there permanently. There are many options for funding a second home, regardless of the purpose for purchasing that home. But there’s no doubt that buying a second home with a VA loan will open the doors for many deserving military personnel who are looking toward retirement.



More resource can be found:

http://www.inman.com

http://www.benjaminbivens.com

http://www.military.com

 

Do you own real estate articles or stories and want to share with other investors? 
You have chance to win
$100 Amazon Gift Certificates. We will give away 3 prizes for top authors each month!

Email your articles or stories to:  articles@buyincomeproperties.com

 

© Copyright 2001 - 2010 by BuyIncomeProperties.com            Page copy protected against web site content infringement by Copyscape   

 


 

Visit Real Estate Forums for every real estate investing topics!  Enter Here

    

Top of Page



Home Courses Real Estate Forms Income Properties For Sale Forums CalculatorReal Estate Education    


Copyright © 2001 - 2010, BuyIncomeProperties.com. All Rights Reserved. Privacy Policy in Observance.