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Thread: VA Loan Question

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    #1

    VA Loan Question

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    Someone just told me that you have to be married to use the VA Loan. The. They said you have to be married for both names to be on the house. She had friends who got married "the next day" so they could close on their house

    Which of these is correct? Are either of them correct?



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    #2
    Yes. The VA loan is for the military member. The VA will not 'support' a loan if one of the co-applicant is not of dependent of the member. The member either has to get the loan solely in their name, without their partner on the deed, or use a different type of loan.

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    #3
    If the mortgage is going to be in both names, to use the VA loan you have to be married. Otherwise put the loan in his name for the VA. Might be easier to get a regular loan. Check out to see if your state does FHA loans or a housing association that does loans. Nearly identical to a VA loan, just not through the gov't military wise.
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    #4
    Yep - VA loans you must be married - true story.
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    #5
    More info: I'm not going on the loan/mortgage because I have no credit history and no "real" income

    Our realtor and the guy from the mortgage company both said that I can be on the deed without being on the loan/mortgage



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    TrishAFSpouse's Avatar
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    #6
    Quote Originally Posted by Moose. View Post
    More info: I'm not going on the loan/mortgage because I have no credit history and no "real" income

    Our realtor and the guy from the mortgage company both said that I can be on the deed without being on the loan/mortgage
    This is correct. You can't be on the deed without being on the mortgage. The bank 'owns' the house until it is paid off. Once it is paid off, the owner can then put whomever they want on the deed.

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    #7
    Quote Originally Posted by Moose. View Post
    More info: I'm not going on the loan/mortgage because I have no credit history and no "real" income

    Our realtor and the guy from the mortgage company both said that I can be on the deed without being on the loan/mortgage
    Not correct. I will be on the deed but not on the mortgage. This came from my realtor and mortgage agent.
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    #8
    Quote Originally Posted by Southern-queen View Post
    Not correct. I will be on the deed but not on the mortgage. This came from my realtor and mortgage agent.
    Hmmm.. you are the first person I know that has been able to get that to happen. Most banks won't allow a person on the deed who isn't on the mortgage.

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    I even googled to make sure it wasn't an uncommon thing. And I think an additional form has to be done at closing or something but it can be done. For the same reason as Moose I am not on the loan app. but our realtor told us straight off, not being on the mortgage does not mean I won't be on the deed. Same with the mortgage guy. Perhaps it depends on the mortgage company?
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    #10
    Quote Originally Posted by Southern-queen View Post
    I even googled to make sure it wasn't an uncommon thing. And I think an additional form has to be done at closing or something but it can be done. For the same reason as Moose I am not on the loan app. but our realtor told us straight off, not being on the mortgage does not mean I won't be on the deed. Same with the mortgage guy. Perhaps it depends on the mortgage company?
    Could it be that you are married?
    I can't se a nonspouse being so easily added to a deed.. by a simple form.

    There are 10 types of people in the world, those that understand binary and those that don't
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