From: "J.C." 
Newsgroups: misc.consumers.house
Subject: Re: Reusing a VA Mortgage.
Date: Tue, 17 Jan 2006 13:55:18 GMT


"The Real PA Coug Fan"  wrote in message 
news:XZudnb7MBrBLpVHeRVn-uQ@suscom.com...
> About three years ago I purchased a house using my VA mortgage benefit. 
> We're looking to relocate now and will be putting our home up for sale 
> soon. From what I gather, a veteran's VA loan entitlement is "reusable," 
> but the loan must be paid off before a new certificate is provided. 
> Ideally, we'd like to move straight into a new home (we're moving 
> cross-country) and not go the sell-rent-buy scenario.  But due the high 
> priced market we're moving to, putting 20% won't be a realisitic option 
> (especially with moving costs factored in);  therefore, I began thinking 
> about my VA loan benefit again.
>
> Is it possible to get pre-qualified for a new VA loan contingent upon the 
> sale and satisfaction of the original VA terms?  Considering this is 
> Veterans Affairs, I'm not feeling too confident in paperwork being 
> satisfied in an expedited manner (that is, sell my home, notify VA, get 
> new VA certificate, and close on my new home).  Any opinions or similar 
> experiences?
>
> Thanks.
>
> Coug
>

The last I heard, althought I had a VA loan and did not pursue it, you can 
get a new VA loan as many times as your old VA loan is paid off. I think the 
logistics are a bit cumbersome though. Heck, just go to their web page and 
check or either call them up.

jc