More Than One VA Loan in Arizona

Posted by

Can a veteran have 2 VA home loans at the same time?  Yes, they can.  Recently, we closed a VA loan for a veteran in Mesa, Arizona.  His name was Tonni.  Tonni owned property in the mid-west that had a VA Mortgage on it.  When he called, he automatically assumed that a 2nd VA loan was not an option.  He thought he had “used up” his VA mortgage benefits.

Check Maricopa County & National VA loan limits

Veterans Can Have More than 1 VA Home Loan

To his surprise, Tonni was eligible for a second simultaneous VA mortgage.  We used his bonus entitlement to approve him for VA loan #2!   Veterans can utilize their bonus entitlement for a 2nd and simultaneous VA loan once their basic entitlement has been exhausted.  Already having a VA loan or having a foreclosure or short sale on a previous VA home loan are examples of what exhausts a veteran’s basic entitlement.

Apply for a VA Home Loan

How to Qualify for a 2nd VA Home Loan

Imagine a veteran has a VA loan on a home already.  This veteran wants to finance a new primary residence using their VA home loan benefits again.  That veteran can tap into their bonus entitlement to finance their new home with a VA mortgage.  Assuming the veteran has sufficient VA bonus entitlement they would be eligible for a 2nd simultaneous VA loan.  This is different from how FHA works.  Learn more about having multiple FHA loans

Minimum Loan Amount Required with Bonus Entitlement

VA requires a veteran finance a specific minimum loan when using VA bonus entitlement.  An Arizona VA mortgage lender cannot originate a loan for less than $144,000 for veterans using VA bonus entitlement. Most borrower’s think of a maximum loan amount when they think about getting pre-approved.  Maximum loan amounts are still a factor with VA however you also now need to factor in the minimum loan amount of $144,000 with VA bonus entitlement.

VA Entitlement Restoration vs. VA Bonus Entitlement

So far, we have addressed the a veteran having 2 VA home loans at the same time or a veteran who has used their basic entitlement up due to foreclosure etc…  Veterans that have had VA loans in the past but have paid them off will have fully restored their basic entitlement (unless other circumstances exist).  A borrower applying for a subsequent Arizona VA mortgage will not need to use bonus entitlement if they do not currently have an existing VA mortgage and they have full basic entitlement.

Apply for a VA Home Loan

By Jeremy House



  1. Hello,
    I currently have a VA loan in Tonto Village AZ, looking to see if have the ability to secure a secondary home in Globe AZ – both properties are in Gila county. Could someone from your team assist me in this process if it is available?

Leave a Reply

Your email address will not be published. Required fields are marked *