Previous VA loan was foreclosed upon in April 2014. Can I get a new VA loan?

If the VA took a loss which suspect they probably did the answer is NO. Until the loss is paid they will not allow you another VA loan.

Yes it could be possible to use bonus coverage on a new VA loan.

If foreclosed: Home was given back to the bank-No owner participation- 2 years from date foreclosure completed & transferred MAYBE if there are no collections, government collections, CAIVARS, etc. Call me

To fully understand what VA benefit you may have, go to the following website. Easy read with good information. https://www.veteransunited.com/valoans/getting-a-va-loan-after-a-foreclosure/ Call Chris Birk at VA United. 855-544-8023

More info needed.. VA gives you entitlement to purchase up to $417K with zero down.. and if your previous VA loan was foreclosed on, then depending on how much you purchased it for, will determine what you can do.. Example: You purchased a $217K home using VA, and it got foreclosed.. Your entitlement is $417K - $217K= $200K.. you have $200K remaining in your VA entitlement.. so long as the home you are purchasing is at or below $200K, you can use VA.. Another caveat is that VA on "2nd tier entitlement" has a minimum loan amount of $144,001. So, if your remaining entitlement is not enough to get to that loan amount (excluding VA funding fee), then you wont be able o use VA a 2nd time.. the other thing is that VA requires a 2 year waiting period after a foreclosure, but VA doesn't lend money.. they only insure loans.. the lenders will usually make you wait 3 to 4 years.. I do have a couple of lenders who go by VA guidelines (2 year waiting period) and I would be happy to analyze your loan scenario to determine if and how much you might qualify for.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347

Yes, no, and maybe. If the VA did not pay out any losses to the lender, then yes. No problem. If the VA paid a loss claim to the lender, then the only way to get a new VA loan after a previous VA foreclosure is to pay back the VA for their loss. Once your loss has been paid, you can get a new VA loan again.