Can you combine multiple peoples income to qualify for a VA loan?

By sammygrl33282 from CA Aug 12th 2015
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by JeffPhi...

Yes, but the caveat is only the borrowers spouse does not need to be a veteran. Others on the loan would also need to have their Certificate of Eligibility. Jeff PhillipsHP Investments, IncPhone - 415-867-6488Fax - 415-962-0474jeff@hpinvestmentsinc.comCalBRE#: 01879516NMLS#: 242083

Aug 12th 2015
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by sammygr...

It's my Son who is 20 and just joined the Marines and wants to buy his Grandpas house his Grandpa just passed away and the house is in a reverse Mortgage. So that makes him a first time buyer and qualifies for a VA loan because he serves in the Marines am I right?

Aug 12th 2015
by JeffPhi...

Yes, as long as he has been on active duty for 90 days.
I would be happy to pre-approve your son. Please have him contact me at 415-867-6488
Jeff PhillipsHP Investments, IncPhone - 415-867-6488Fax - 415-962-0474jeff@hpinvestmentsinc.comCalBRE#: 01879516NMLS#: 242083

Aug 12th 2015
by William...

Yes and no.. VA only allows for borrower and borrowers spouse to be on the application.. in other words, no co-borrowers or co-signers (unless they are also veterans with remaining eligibility).. only the veteran and their spouse. Your son has to be on active duty for a minimum of 90 days and must have sufficient income to qualify for the loan based on his income along with his spouse if he has one.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Aug 12th 2015
by dhosterman

In order to do a a VA loan the borrowers must be married. VA does not allow for co-signers.

Aug 14th 2015