purchasing a 2nd home (primary residence) using a conventional loan and I still own my first home. I converted it into a rental and make profit monthly. I used a VA loan on this property and do not plan to refinance it for now so I can not use my VA benefits to purchase my 2nd home. I have secured financing, contract, and will have enough cash for a down payment but I am concerned I will be strapped for cash and need access to some for of liquidity over the next few months. I have explored many options to include a home equity loan on the VA mortgage loan but I was informed that since it is a rental currently, it may not be possible to do this. I considered setting up a home equity LOC from my credit union and this is possible. Also, I am in the process of rolling over two retirement accounts into my new employer's 401(k) plan. I have read that it may be possible to withdraw funds from my retirement accounts via distribution to a rollover and hold onto it for 60 days before I deposit it into my new 401(k) without penalty. Could this be a potential source of short-term (1-2 months) cash on hand just in case? I will have no issue paying the month back but do not want to be forced to access a high-interest rate loan, LOC if I don't have to.


Hi there @AGNP27, I will have this matter reviewed by the appropriate area. Due to being the weekend, that team is out of the office until Monday.  We will be happy to review at that time. 

I have nothing to do with this matter, but I note how useless it is be restricted to writing to 
"Social Services," which clearly has no authority, just the ability to try to politely molify customers and pass their messaged to unidentified "appropriate" peole deep in USAA.  Must be equally frustrating for Social Services.  You probably should tell them to call, in the hope that they might be transferred to those appropriate people.  Not real decision-makers, of course.


John Sullivan

55-year member

@AGNP27, You have asked a great question and I understand your concerns. In order to provide you the best answer, I recommend you call one of our licensed loan officers at 800-531-8722 to discuss in detail our mortgage products and specific requirements. Thank you - David