Can a non-spouse be a co-borrower on a VA loan?
Veterans. Except for a spouse, no civilians may co-borrow for a VA loan. Furthermore, the veteran you choose to be a co-borrower must intend to live on the property with you.
Does VA allow non occupant co-borrowers?
According to the VA, a non-occupant co-borrower — often called a co-signer in this case — is not allowed. In order to co-sign a VA loan, the person needs to live in the property and use it as their primary residence.
Can my girlfriend be on my VA loan?
May a veteran join with a non veteran (ex. girlfriend, boyfriend, significant other) who is not his or her spouse in obtaining a VA loan? Yes, but the guaranty is based only on the veteran’s portion of the loan. … Both incomes can be used to qualify for the loan.
Does VA recognize domestic partnership?
Q: Will VA recognize my domestic partnership or civil union for purposes of VA benefits? … A: VA will treat all married couples the same, regardless of the sex of the spouses. The Veteran does not have to die before a spouse can be eligible for burial or memorial benefits.
Can a family member use my VA loan?
We get many questions along these lines–can a family member use the veteran’s VA home loan benefit? The short answer is no–siblings and dependent children cannot use the VA loan benefit. … Essentially, the VA loan benefit is intended for the veteran and a spouse, where applicable, who want to purchase a home.
Can a non borrower be on title?
A person who is an owner but does not have an obligation to repay the loan is sometimes referred to as a “non-obligor” or “non-borrower.” One easy solution would be to have the additional name(s) added to the deed after closing. … In conclusion, you can be a title holder and not be obligated to the loan.
Does it matter who is borrower and co-borrower?
Since the borrower and co-borrower are equally responsible for the mortgage payments and both may have claim to the property, the simple answer is that it likely doesn’t matter. In most cases, a co-borrower is simply someone who appears on the loan documents in addition to the borrower.
What is a non occupant co-borrower?
A non-occupant borrower is anyone, such as a parent, who is willing and financially able to be a borrower on the mortgage, but who will not live in the home.
Is my spouse a co-borrower?
A co-borrower is any additional borrower whose income, assets, and credit history are used to qualify for the loan and whose name appears on the loan documents. … Your co-borrower can be a spouse, parent, sibling, family member, or friend as an occupying co-borrowers or a non-occupying co-borrowers.