Like the other government-backed loans, VA home loans have occupancy requirements that help keep the program’s focus on primary residences.
Service members who secure a VA purchase loan have to certify that they intend to personally occupy the property as their primary residence. VA borrowers usually have a 60-day window after completing the loan process to move into the house. Requirements can differ on VA refinance loans.
Some homebuyers find that two months isn’t enough time. The VA does allow buyers in certain situations to go beyond that 60-day mark, although occupancy delayed more than a year is generally unacceptable.
Here are a few common situations and possible outcomes:
Every occupancy scenario is different, and requirements and policies can differ among lenders. If you think you might have difficulty occupying a home within 60 days of closing, let your loan officer know as soon as possible. Depending on your unique situation, there may be an exception or a workaround.