Did you know you can own two homes with VA loans on them? It is a misconception that you can only have one VA loan at a time. You can in fact have 2 VA loans going simultaneously. VA allows you to have loans 100% financing up to $417k, so if you have a home loan for $200k, you can have another loan up to $217K with no down payment (these loan amounts do include the VA funding fee). You can go above the total amount of $417k, you just need to have a down payment of 25% of the difference. So, if you have $217k left and want to buy a home that is $250k, you would just need 25% of the difference, $250k – $217k = $33k x 25% = $8,250. Not a bad down payment for not having any mortgage insurance. Please call me at 719-522-6952 and I will be happy to answer any questions and analyze your situation!