USAVA Lending is a VA Approved Lender | NMLS ID 966439 | MB 0921703
19 2016

Co-signers for VA loans

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signingTo qualify for a VA home loan, at least one borrower must meet the VA loan requirements.

If you are an eligible veteran and find yourself needing a co-signer, eligible co-signers may include:

Having a spouse as a co-signer may be beneficial if said spouse has acceptable credit and debt-to-income ratio. A spouse may even help a veteran qualify for a larger loan. If the co-signer is not a spouse, his/her income may NOT be used for qualifying purposes.

There are circumstances where a co-signer may affect the changes of getting approved for a loan. Be sure to ask one of our loan specialist which option works best for your needs.

If the co-signer is not an unmarried military member or a legal spouse, there are certain restrictions that apply. Having only one VA approved co-borrower means a lender will only have a portion of the loan backed by the VA. The VA only guarantees the dollar amount of the veteran’s interest in the property. Usually, this option means a down payment will be required.

certifiedIf you believe your loan might need a co-signer, call our loan specialists today!