There are certain property requirements involved when purchasing a home or refinancing a current mortgage with a VA loan. To receive a VA loan, the home you are purchasing or the loan that you are planning to refinance must be for a home that you will use as your primary residence.
Additional acceptable property types and uses:
- Buying a pre-existing home
- Building a new home
- Buying a condominium or townhouse
- Refinancing an existing VA loan to get a better interest rate, or to take cash out