VA Loan Guidelines
Joint VA Loans (VA Loans with Co-signors)
The VA guidelines recognize legally married spouses of qualified veterans as co-signors on
VA loans and can include their income. These loans can be fully guaranteed by the VA.
The VA guidelines will allow for more than one eligible veteran(s) to purchase a home.
If more than one eligible veteran is involved, VA divides the entitlement charge equally
between them, if possible. These loans can be fully guaranteed by the VA.
While the VA guidelines may allow for a non-veteran to co-sign for a mortgage loan, they will
not fully guarantee the loan. The VA Guarantee is limited to that portion of the loan
allocated to the veteran's interest in the property. That means the VA will not fully
guarantee this type of loan and our company cannot originate loans that are not fully
guaranteed by the VA.
VA Loan Articles
Read About News, Updates, and Guidelines
VA loans donít always involve a single borrower. Sometimes there are situations where co-borrowers, co-signers, and joint loan applicants want to apply for a VA guaranteed mortgage loan.
Does the VA require title insurance? Some borrowers may discuss their VA loan options with a lender that does require title insurance, but is this a VA-mandated or lender required feature of VA home loans?
Many veterans and their families were affected recently by the weather across several states, and the Department of Veterans Affairs went into action to inform and assist homeowners recovering from the damage.
One not-so-commonly asked question, but an important one to answer for some borrowers, involves the length or term of a VA home loan. Unfortunately, a new purchase VA home loan cannot be issued for a term longer than 30 years.
VA policy changes state that no one is allowed to buy a home with a VA loan without promising in writing that they will take possession of the home within a reasonable period and live on the property as their primary residence.