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
Currently serving military members who want to apply for VA insured home loans should know about the rules for VA loan applicants within a year of their current re-enlistment, retirement or separation date.
The VA loan benefit is offered to all qualifying veterans who have met their time in service requirements and/or discharge requirements. Some military people use their VA home loan benefits as soon as they are eligible.
VA loans include fees and expenses a borrower is allowed to pay, but the Department of Veterans Affairs also has a list of expenses the bank is not allowed to charge the borrower.
In 2012, the Department of Veterans Affairs alters the methods used to calculate the VA loan maximum amount. If Congress passes legislation permitting VA to calculate maximum guaranty as it has in the past, the numbers below could increase slightly.
VA appraisal rules insure that a home purchased with a VA insured mortgage is safe and habitable for the borrower; the rules are also designed to make certain the property lives up to VA standards.
