Bret Bushman and Nathan Osmond from Security Home Mortgage share three advantages to using a VA loan. First, you don’t need money down for a home deposit. Secondly, home rates are very low for VA loans. Lastly, you don’t need mortgage insurance to purchase your house under a VA loan. However, you can’t buy a home with a VA loan and use that home as a rental. You can use a VA loan for your personal home only.

There is also a limit of eligibility for veterans. Although you can have more than one home with a VA loan, you can only have a certain amount of dollar eligibility. Depending on your equity and the price of the house, you can own more than one home.

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