Can I get the full $417,000 and then get a second loan to cover any additional amount of the purchase price?
This is allowed, but the guidelines are very strict. The second loan has to be equal to or better than what you would get with one large VA Loan. The rates on second loans are nearly always higher and, therefore, would not fit guidelines. Also, many lenders will not allow a second loan behind the VA Loan during a purchase.
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- Can I get the full $417,000 and then get a second loan to cover any additional amount of the purchase price?
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