Using spousal income to qualify for a VA Home Loan.mp4 from David Piatek on Vimeo.

Using Spousal Income to Qualify for a VA Home Loan

by David Piatek

Hi everyone, I’m David Piatek and welcome to another video blog talking about military members and using the VA Home Loan.  Today’s Topic: Using spousal income to qualify for a VA Home Loan.

There are a couple of things we need to address, first, the military members needs to be on the loan application.  Second, in order to use another person’s income to qualify for the VA Home Loan – you’ll need to be married at the time of closing, in order to use a regular loan.  Otherwise, you can have a non-married co-borrower on a VA Home Loan but that’s called a Joint Home Loan Application and we’ll be coving that in another video.

There are plenty of scenario’s where a military member might not be working – either going to school, transitioning out of the military or taking time off to name a few.  You can use disability income or retirement income to qualify for a home loan but one of the best kept secrets – is you can solely use spousal income to qualify for a VA Home Loan as long as the military member is eligible and on the loan.   NOTE: if the military member is attending school and received BAH – you can NOT use that to qualify for a VA Home Loan. 

Now, both credit reports will be reviewed, all the liabilities will be factored in from the borrower and co-borrower and the lower of the two, middle credit scores will be used for qualification.

This also goes the other way, if a spouse is not working and wants to be on the VA Home Loan Application – no problem.  Both credit reports will be reviewed, all the liabilities will be factored in from the borrower and co-borrower and the lower of the two, middle credit scores will be used for qualification.

The VA Home Loan is a phenomenal product, that offers huge benefits and savings to military members and their families. If you have questions about the VA Home Loan or working with military members, please give me a call at 202-875-1010.  I’m happy to help.

Have a great day!

Subject to credit approval.  Terms and conditions may apply.  Subject to VA eligibility requirements.  Property insurance is required on all loan secured by property.