October 4, 2024
Yes, you can potentially use your VA Loan benefits even if you're PCS-ing (Permanent Change of Station) and have only lived in your current home for 6 months. The VA Loan program is designed to accommodate the unique circumstances of military service members, including frequent relocations.
However, there are some considerations:
1. **Occupancy Requirements:** Generally, VA loans have an occupancy requirement, meaning the home should be your primary residence. When you're PCS-ing, the VA understands that service members may need to move frequently, and they may grant exceptions or flexibility under these circumstances.
2. **Renting Out the Current Home:** If you're planning to rent out your current home after you move, it's essential to consult with your lender to understand how it might affect your loan or any agreements you've made.
3. **Remaining Entitlement:** Make sure you have enough remaining entitlement to purchase another home. Your entitlement is the amount the VA will guarantee for each loan, and if you have used it on your current home, you may still have enough remaining to purchase another property.
4. **Financial Considerations:** Ensure that you meet the lender’s criteria for taking on a new mortgage while maintaining your current one if you don't sell it.
Each situation can be a bit unique, so it might be beneficial to consult directly with a loan officer who can provide guidance specific to your circumstances and help evaluate your options. If you'd like to discuss your situation further, you can contact Patton Gade at 623-866-3974 or via email at pgade@umortgage.com.