VA Loans For Non-Veterans? A Reader Question
A reader asks, “My father is veteran And I was wondering as a non-veteran could I qualify for a V.A. loan for a home?”
In general, VA home loans are only for eligible service members (current or former) and in some cases the surviving spouse of a military member who died “while in service or from a service connected disability”. Surviving spouses of prisoners of war or of those who are missing in action may also be able to apply.
According to the VA official site, “You may also apply for eligibility if you fall into one of the following categories:
- Certain U.S. citizens who served in the armed forces of a government allied with the United States in World War II
- Individuals with service as members in certain organizations, such as Public Health Service officers, cadets at the United States Military, Air Force, or Coast Guard Academy, midshipmen at the United States Naval Academy, officers of National Oceanic & Atmospheric Administration, merchant seaman with World War II service, and others”
In the case of this reader question, unless the reader falls into one of the above categories, the answer would be no. However, there’s nothing to prevent a qualified VA borrower from obtaining a home loan and allowing an eligible non-veteran to assume that loan. VA loans are assumable and the person who assumes the loan does not have to be a veteran.
That said, the person assuming the loan would be required to qualify for the mortgage with the lender–bad credit, poor repayment history and other factors would be taken into account where applicable. The lender’s participation in the loan assumption for most VA loans is required (with exceptions made for certain loans closed prior to March 1, 1989).
Do you have VA loan questions? Ask us in the comments section.