Learn How You Can Use Your VA Loan Entitlement Multiple Times

The Department of Veterans Affairs (VA) makes buying a home more affordable for eligible veterans, active-duty service members, and surviving spouses. Even better—you can use your VA loan entitlement again to refinance your current home or buy a new one.

Knowing your entitlement is the first step if you're wondering how many VA loans you may have at once or how to find out whether you can use your benefit once again. We’ll explain how to assess your remaining eligibility, when you can have several loans, and how VA loan reuse works.

How Many VA Loans Can You Have?

There are no limits on the number of times you can get a VA loan as long as you have remaining entitlement and meet eligibility guidelines. In most circumstances, however, you can only buy or refinance one house at a time since VA loans are intended for primary residences, not second homes or investment properties.

There is one key exception to this rule: for servicemen who purchase a new home after undergoing a permanent change of station (PCS), there is often a short window of time where they’ll own two properties. In this scenario, service members can keep their previous property as a rental, while using any remaining entitlement to purchase their new primary home.

Borrowers will usually need to pay a VA funding fee each time they use this program. This is a one-time payment–ranging from 0.5%-3.5% of the loan, depending on its size and loan type–borrowers pay to the Department of Veterans Affairs. The tradeoff is that most VA-backed loans don’t require down payments or private mortgage insurance (PMI).

The ability to take out multiple loans depends on your income, remaining entitlement, and adherence to lender guidelines, so be sure to understand VA loan requirements for re-use.

Understanding Your VA Loan Entitlement

Your VA loan entitlement is a lifetime benefit. You'll need to meet the VA eligibility standards as well as the lender’s credit, income, and financial requirements to have your loan application approved.

The amount of entitlement you have determines how much the VA will guarantee to your lender.

• Full entitlement: Full entitlement indicates a borrower hasn’t used their benefits, or that they’ve fully restored their entitlement after paying off a previous loan. With access to the full VA loan benefit, service members can potentially borrow without making a down payment and there are no VA loan limits. The size of the loan is determined by what the borrower can afford.
• Partial entitlement: Partial or remaining entitlement applies to those who’ve used some of their entitlement. This means a portion of their VA loan benefit is still being used toward an existing loan or has yet to be restored.

Basic vs. Bonus Entitlement

There are two types of VA loan entitlements: basic and bonus. The difference comes down to the size of the loan and how much the VA is willing to pay lenders if borrowers default on a VA home loan. Basic entitlements traditionally cover $36,000 on loans valued at $144,000 or less, or up to 25% of the loan amount. Bonus entitlements, also referred to as additional, secondary, or Tier 2 entitlements, apply to loans exceeding $144,000. Bonus entitlements cover up to 25% of a VA home loan and allow service members to borrow larger amounts without needing to make a down payment.

If you already have an active loan, any entitlement currently in use reduces how much remains available. In these cases, understanding VA loan limits and how much entitlement you have left helps determine whether you can take out a second VA loan or whether a down payment will be required.

How to Determine Your Remaining Entitlement

Bonus entitlements, unlike basic entitlements, need to be calculated for borrowers to know the exact amount, whereas basic entitlements will be clearly listed on your Certificate of Eligibility (COE). If you’ve used part of your entitlement benefit on another property, you can calculate how much is left using the following steps:

1. Check your COE to find your total entitlement amount and how much you’ve already used. This can be found in the “Prior Loans charged to entitlement” table.
2. Determine the county loan limit of the county in which the property is located. You can find this information on the Federal Housing Finance Agency (FHFA) website.
3. Multiply the county loan limit by 0.25 (25%).
4. Subtract the amount of entitlement you’ve already used from the amount calculated in step 3. This will give you your remaining bonus entitlement amount.

How to Use a VA Loan More Than Once

In most cases, you can only finance one home at a time with a VA loan. This means you must pay off your current VA loan in full before you get a new one. Most homeowners do this one of three ways.

Selling Your Home

You can sell your house and pay off the mortgage. Once you’ve paid your mortgage in full and your home is sold, you can request a one-time restoration of your VA loan benefit. This will replenish your entitlement entirely. You can then use your benefit toward another primary residence.

Refinancing Your VA Loan

You can refinance your house, paying off your existing VA loan and replacing it with a new one. Many homeowners do this with a VA streamline refinance, also called a VA IRRRL. VA IRRRLs allow you to get a lower rate with less paperwork and faster closings compared to other types of loans.

Paying Off Your VA Loan in Full

The third choice is to pay off the VA loan in full. This one-time restoration is often used when servicemen plan on selling their home after they’ve paid their mortgage in full, but in some cases, the VA will grant its restoration of your entitlement if the loan is paid off, even if you don’t plan on selling it.

Keep in mind that you can only use a VA loan to buy or refinance a primary home, which is the home where you live most of the time.

Re-Using VA Loans FAQs

Here are some additional questions you may have about re-using VA loans.

How Long After Getting a VA Loan Can I Borrow Again?

There’s no established waiting period homeowners need to honor before seeking another VA home loan; some service members can even borrow again while still paying off their first loan. There is a major exception, however, for those borrowing after foreclosure. If a home purchased with a VA-backed loan has been foreclosed upon, most lenders will require that you wait two years before borrowing again.

Can You Have Two VA Mortgages at the Same Time?

Yes, you can have two VA mortgages at once in some circumstances. This would be an option for eligible borrowers who have a Permanent Change of Station (PCS) or choose to keep their home instead of selling it, such as turning it into a rental property while purchasing a new primary residence. The new loan must still be used for a primary residence, use any remaining entitlement, and meet VA occupancy guidelines.

Is There a Limit to How Many Times I Can Use My VA Loan?

No, anyone eligible for a VA loan can use it as many times as they want in their lifetime as long as borrowers have remaining entitlement, or if it's been replenished after paying off a previous mortgage.

Final Thoughts: You Can Use VA Loans Multiple Times

In closing, VA loans can be used multiple times, but how that works will depend on your eligibility and loan status. For the majority of borrowers, this means repaying an existing VA loan before obtaining a new one; however, there are some circumstances, such as having residual entitlement or moving, that may allow them to proceed without having to start again. The important thing is that your benefit changes depending on how much you've used and if it has been restored–it doesn't vanish after just one usage.If you’re thinking about using your VA loan again, the next step is to explore your options or get prequalified so you can see exactly where you stand and what your benefit can support.