One of the most common questions is: “Who is eligible for a VA loan?” The answer depends on specific borrower combinations the Department of Veterans Affairs (VA) allows. Here’s a breakdown of who can qualify for a VA loan and what you need to know.
Who Can Qualify for a VA Loan?
The VA has strict guidelines about who can apply for a VA loan. Below are the eligible borrower combinations:
1. A Veteran
- Single veterans who meet the VA’s service requirements can independently apply for a VA loan.
2. A Veteran and Their Non-Veteran Spouse
- Veterans can apply for a VA loan with their non-veteran spouse, allowing both names to be on the mortgage.
3. Two Veterans Married to Each Other
- If both spouses are veterans, they can combine their VA loan benefits to purchase a home together.
4. Surviving Spouse of an Eligible Veteran
- Surviving spouses of eligible veterans may qualify for a VA loan, but they must provide a VA-issued Certificate of Eligibility (COE).
5. Spouse of an Active Veteran Declared MIA or POW for Over 90 Days
- Spouses of active-duty service members who have been declared Missing in Action (MIA) or Prisoners of War (POW) for more than 90 days are eligible for VA loans.
6. Two Veterans Who Are NOT Married to Each Other
- Two veterans who are not married can apply for a VA loan together, combining their benefits to secure financing.
Special Case: Joint Loans with Non-Spouse, Non-Veterans
The VA also allows joint loans between a veteran and one or more non-spouse non-veterans. However, this combination requires prior VA approval. If you’re considering this option, our team can guide you through the process and help you obtain the necessary approval.
Ready to Get Started?
Contact us if you’re ready to take the next step toward homeownership. Our team of experts will help you determine your eligibility, guide you through the application process, and ensure you get the most out of your VA loan benefits.
