Under what condition can a VA loan be granted for purchasing a multi-family property?

A VA loan, or Veterans Affairs loan, can be utilized for purchasing a multi-family property as long as the veteran agrees to occupy one of the units as their primary residence. This requirement is in place because the VA loan program is designed to assist veterans in becoming homeowners, promoting stability and community involvement. By requiring the veteran to live in one of the units, it ensures that they have a vested interest in the upkeep and management of the property.

The other options presented do not align with the fundamental eligibility criteria for VA loans regarding multi-family residences. For instance, while ensuring that the rent collected might equal mortgage payments could be beneficial for cash flow, it is not a condition required for obtaining the loan. Similarly, the specifics of loan amortization periods and down payments are not constraints tied to the approval of VA loans for multi-family properties. VA loans typically do not require a down payment or specify a maximum amortization timeframe, as long as the borrower meets overall eligibility and credit requirements.