{"id":11697,"date":"2018-02-12T17:46:37","date_gmt":"2018-02-12T17:46:37","guid":{"rendered":"https:\/\/one.sightlinemg.com\/armytimes\/uncategorized\/2018\/02\/12\/need-a-second-mortgage-from-va-heres-how-it-can-work\/"},"modified":"2026-08-08T01:39:10","modified_gmt":"2026-08-08T01:39:10","slug":"need-a-second-mortgage-from-va-heres-how-it-can-work","status":"publish","type":"post","link":"https:\/\/one.sightlinemg.com\/armytimes\/home-hq\/2018\/02\/12\/need-a-second-mortgage-from-va-heres-how-it-can-work\/","title":{"rendered":"Need a VA-backed second mortgage? Here\u2019s how it can work"},"content":{"rendered":"\n

While a second mortgage may not be a preferred financial option, unexpected expenses or other budget crunches may make it a requirement.<\/p>\n\n\n\n

Troops and veterans seeking an additional mortgage<\/a> may qualify for a VA-backed loan<\/a>, even if their property\u2019s first mortgage was financed using their VA benefits<\/a>.<\/p>\n\n\n\n

There are some hoops to jump through. Here\u2019s the a breakdown, from the VA Lenders Handbook<\/a>:<\/p>\n\n\n\n

1. Lesser loan. <\/b>The second mortgage \u201cmust be subordinated to the VA-guaranteed loan,\u201d per the handbook. In lender parlance, that makes it a \u201cjunior lien.\u201d Put simply, you can\u2019t borrow more on the second go-round than you did for in the first loan.<\/p>\n\n\n\t