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There are certain property requirements involved when purchasing a home or refinancing a current mortgage with a VA loan. To receive a VA loan, the home you are purchasing or the loan that you are planning to refinance must be for a home that you will use as your primary residence.
Additional acceptable property types and uses.
- Buying a pre-existing home.
- Building a new home.
- Buying a condominium or townhome.
- Refinancing an existing VA loan to get a better interest rate, or to take cash out.