The VA doesn’t expressly prohibit non-spousal co-borrowers. In those instances, the agency tells VA lenders that it will only guaranty the eligible borrower’s portion of the home loan. … Does that mean you can’t secure a VA loan with your fiancé or fiancée, your long-time significant other or your civilian neighbor? No.
Also, can I use my VA loan with my boyfriend?
When couples look for a home together, they often put both their names on the loan. Applying for a VA loan with your spouse as a co-borrower, regardless of their veteran status, is no different than with other loans. Veterans. Except for a spouse, no civilians may co-borrow for a VA loan.
Likewise, can an unmarried couple be on a VA loan?
These loans are the most flexible and allow unmarried couples to be co-borrowers without a problem. However, the qualification requirements are strict and you may have trouble qualifying for a low interest rate if your credit scores aren’t high.
Can 2 unmarried veterans buy a house together?
Two married or unmarried VA-eligible borrowers
Two VA-eligible borrowers can also purchase a home together. Under this scenario, the borrowers could use one entitlement, both (called dual entitlement), or split the entitlements however they see fit. In all three situations, no down payment would be required.
VA loan rules in the VA Lender’s Handbook address this situation in Chapter Seven under the heading, “Joint Loans.” Chapter Seven says that a veteran and fiancé can apply for the VA loan together and be treated the same as a married couple–but the loan’s approval depends on the couple becoming legally married.
A domestic partnership or civil union that is not recognized as a “marriage” under state law cannot be considered a valid marriage for VA purposes.
Two non-eligible borrowers and two borrowers using their VA Home Loan benefits.
You may be eligible for a VA loan by meeting one or more of the following requirements:
- You have served 90 consecutive days of active service during wartime, OR.
- You have served 181 days of active service during peacetime, OR.
- You have 6 years of service in the National Guard or Reserves, OR.