VA Multi-Unit Mortgage Guidelines On VA Home Loans


This BLOG On VA Multi-Unit Mortgage Guidelines On VA Home Loans Was PUBLISHED On January 10th, 2019

The U.S. Department of Veterans Affairs allows owner occupant 2 to 4 unit property financing with 100% LTV.

  • No down payment is required on 2 to 4 unit multi-family units
  • Anyone to four-unit residential properties is treated residential properties and falls within 100% VA Financing Guidelines

Gustan Cho Associates are experts in VA Financing. We are national lenders with no overlays on VA Loans. In this article, we will cover and discuss qualifying for multi-unit family mortgage guidelines on VA loans.

How To Qualify For VA Financing

Borrowers who want to qualify for 2 to 4 unit properties need to meet VA Multi-Unit Mortgage Guidelines. 

Qualifying For VA Multi-Unit Property

Gustan Cho Associates are five-star national lenders with no overlays on VA Loans.

  • The first step in qualifying is to consult with one of our loan officers
  • The loan officer will interview borrowers and collect mortgage docs
  • Run credit and run file through automated underwriting system
  • Our loan officers will assist borrowers with obtaining their Certificate Of Eligibility (COE)
  • This can be done online through the VA eBenefits portal or by going through the WebLGY system
  • After thoroughly reviewing the file, the loan officer will issue a solid iron-clad pre-approval letter

VA Multi-Unit Mortgage Guidelines Versus Lender Overlays

Gustan Cho Associates does not have any overlays on VA Loans. We only go by VA Multi-Unit Mortgage Guidelines.

Here are the basic agency VA Multi-Unit Mortgage Guidelines:

  • No minimum credit scores required
  • No maximum debt to income ratios
  • 100% financing with no down payment
  • 2 year waiting period after Chapter 7 Bankruptcy, foreclosure, deed in lieu, short sale
  • Outstanding collections and charged-off accounts do not have to be paid
  • Homebuyers can qualify for VA Loans one year into a Chapter 13 Bankruptcy Repayment Plan
  • Chapter 13 Bankruptcy does not have to be discharged
  • Need Trustee Approval
  • There is no waiting period after Chapter 13 Bankruptcy discharged date
  • Deferred student loans that are deferred longer than 12 months are exempt from DTI Calculations
  • Read More On VA Guidelines On Student Loans for more information

VA Multi-Unit Mortgage Guidelines On Documents Required By Borrowers

There are certain documents required by borrowers to process VA Loans:

  • List of documents required to process and underwrite VA Home Loans are the following: 
    • DD 214, Certificate of Eligibility
    • 60 days bank statements
    • one month pay stubs
    • other income documentation
    • two years tax returns if applicable
    • two years W2s
    • copy of photo ID
    • social security card
    • credit report
  • Loan Originator will run the file through the Automated Underwriting System
  • AUS  is a risk-based system that will result in findings to determine eligibility from the credit/income information entered in the system

Shopping For Home

Once borrowers meet all VA Multi-Unit Mortgage Guidelines and armed with a pre-approval, they can now shop for 2 to 4 unit homes.

  • Once they find a home they like, they can enter into a real estate purchase contract
  • All of our pre-approvals at Gustan Cho Associates at Loan Cabin Inc. are solid fully pre-underwritten approvals
  • We have in-house processors, operations personnel, and mortgage underwriters
  • Loan Officers are not allowed to issue pre-approvals unless they are 100% confident that the loan will not just close, but will close on time
  • Over 75% of our borrowers are folks who gotten last-minute loan denials or are undergoing a stressful mortgage process with another lender

There is no stress with Gustan Cho Associates Mortgage Group. Contact us at 262-716-8151 or text us for a faster response. Or email us at We are available 7 days a week, evenings, weekends, and holidays.

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