I am trying to sell my house in Texas, due to military orders, and now in a different state. I have some potential buyers, but they would like to lease first for 6-12 months. Since I still owe on the house and it is a VA Loan that I used to buy my house, am I allowed to lease the house? I was told I could'nt because I used a VA loan to buy it. Is this true? Thank you in advance.
Thank you for your inquiry in Community. To be eligible for a VA loan, potential homebuyers must meet certain service requirements. VA loans can only be used for your primary residence. However, although it’s relatively complex, it is possible to have two VA loans at the same time. The Department of Veterans Affairs website (www.va.gov) is a comprehensive resource for information on these loans. ~Thank you. Celeste