The VA loan program is one of the most powerful benefits available to eligible veterans and active-duty service members. But many don’t realize: you can use your VA loan benefit more than once—and yes, it can be used for a second home under the right circumstances.
If you’re considering buying a second home in St. Petersburg, FL, this guide explains how your VA loan benefit may apply, what entitlement means, and how The Orlicki Group can help you navigate your next VA-backed purchase.
Why St. Petersburg is a Smart Choice for a Second Home
With its gulf coast charm, vibrant arts scene, and laid-back lifestyle, St. Pete is an ideal place to purchase a second home—especially for veterans retiring in Florida, snowbirds looking for a winter base, or those stationed nearby at MacDill AFB.
Here’s why veterans love St. Petersburg:
- Mild winters and year-round sunshine
- Waterfront neighborhoods like Snell Isle, Shore Acres, and Coquina Key
- Access to VA services through nearby clinics and Tampa-based medical centers
- No state income tax, making Florida an appealing retirement destination
Can You Use a VA Loan for a Second Home?
Yes—in certain situations, eligible borrowers can use a VA loan to buy another home, even if they’ve used the benefit before.
This hinges on a few factors:
- Remaining VA entitlement
- Whether the new home is intended as a primary residence
- If you’re selling or retaining your current VA-financed property
Understanding VA Loan Entitlement
VA loan entitlement refers to the amount the VA guarantees on your loan. You may have:
Full Entitlement
You’ve never used a VA loan before—or you’ve used it and fully repaid the loan and sold the home. You can purchase a home up to the loan limit with zero down.
Remaining (or Partial) Entitlement
You still own a home financed with a VA loan or defaulted on a previous VA loan. You can still use your benefit, but there may be a limit to how much the VA will guarantee on the second loan.
In 2025, loan limits for partial entitlement follow the Federal Housing Finance Agency (FHFA) conforming loan limits, which in Florida is currently $766,550 (subject to change annually).
Buying a Second Primary Residence in St. Pete with a VA Loan
One key rule: VA loans are only for primary residences. However, that doesn’t mean you can’t own two VA-financed homes—as long as the second home becomes your new primary residence.
Here’s how this might apply:
- You’re relocating from another city or state and want to use your VA benefit to buy a new home in St. Pete.
- You still own your first home (with a VA loan) and are converting it to a rental property.
- You’ve been reassigned to MacDill AFB and need to live closer to base.
💡 Pro Tip: The VA requires you to move into your new primary residence within 60 days of closing, unless granted an exception.
Can You Keep Your First Home and Buy Another with a VA Loan?
Yes. This is called “tiered entitlement” or “remaining entitlement.”
Scenario:
You bought your first home in 2018 for $250,000 using a VA loan and are now looking to buy a second home in St. Pete. If you haven’t defaulted and your first home hasn’t been sold, you may still have remaining entitlement to buy again—but only up to a certain loan amount without a down payment.
If the price of the second home exceeds your remaining entitlement, you may need to:
- Make a small down payment, or
- Use other forms of financing for the difference
A qualified mortgage broker like The Orlicki Group can help you calculate exactly how much of your entitlement is available and what your purchasing power is.
What If You’ve Already Paid Off Your First VA Loan?
Great news: if your first VA loan has been paid in full, you can restore your full entitlement.
There are two ways to do this:
- Sell the home and repay the VA loan in full.
- Apply for a one-time restoration of entitlement if you plan to keep the home but won’t use your VA benefit again on it.
How The Orlicki Group Helps Veterans Buy Second Homes in St. Pete
Navigating entitlement, multiple VA loans, and second-home rules can be complex. That’s where we come in.
At The Orlicki Group, we specialize in working with Florida veterans and understand how to:
- Calculate remaining entitlement
- Determine if a down payment is needed
- Find VA-approved homes and condos
- Guide you through the pre-approval and closing process
- Connect you with local agents familiar with VA-friendly neighborhoods
Our goal is to make the process easy, fast, and stress-free—whether this is your second purchase or your fifth.
VA Loans and Rental Income: What to Know
If you’re planning to rent out your first home, some lenders may consider that projected rental income when qualifying you for a second VA loan. However, VA guidelines require strict documentation and proof of lease agreements, deposits, and more.
Let us help you determine if rental income can improve your DTI (debt-to-income) ratio.
Final Thoughts: Yes, You Can Use a VA Loan for a Second Home in St. Petersburg
Whether you’re retiring, relocating, or just want to live closer to the coast, your VA loan benefit can still work for you—even if you’ve used it before.
The key is understanding your remaining entitlement and having an experienced mortgage broker in your corner.
🏡 Ready to Buy Your Second Home in St. Pete?
Let’s talk. At The Orlicki Group, we’ll help you unlock your VA benefits, maximize your purchasing power, and move into your new home with confidence.
👉 Schedule your free consultation today and take the first step toward a smooth, stress-free move!
Contact Us Today!
Visit our website or Schedule Your Free Consultation with The Orlicki Group — your trusted mortgage broker in St. Petersburg, FL.
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