The VA Joint Loan: Everything You Need to Know

Описание: #valoans #preapproval #realestate

Serving Veterans is my civilian MOS! Need a mortgage or want to discuss your scenario? We are licensed and serving Veterans in 48 states for purchase and refinances.

Here is how to contact me:
1. Check your eligibility and receive a personalized evaluation of your VA Loan: https://connect.valoansforvets.com
2. Email me at [email protected]
3. Call me 602-908-5849
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Jimmy Vercellino, Mortgage Loan Originator/Regional Residential Mortgage Director NMLS 184169 at First Western Trust
Corporate NMLS 477166
VALoansForVets.com Headquarters: 3602 E Campbell Ave, Phoenix, AZ 85018
Equal Housing Lender- For licensing, go to www.nmlsconsumeraccess.org
Top 1% VA Lenders in the Nation

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The VA Joint Loan: Everything You Need to Know! Several veterans have reach out and asked me the question- "Can I buy a house with a non-veteran. To clarify, a non-veteran that is NOT your spouse?" The answer is YES. Yes you can! Here's the deal. A lot of mortgage lenders out there will tell you NO you can't. The reason why is they don't know how to originate these types of loans. The VA has a name for this loan. It's called a VA Joint loan. That simply means a veteran and non-veteran who are not married are purchasing a home together. Allow me to explain and share with you the requirements. First, obviously is has to be a veteran that's taking advantage of their VA loan benefit. Second, the non-veteran that's NOT a spouse that is on the VA loan needs to live in the home. In other words, it's got to be a primary residence, for everyone living in the home. Remember, the VA does not lend the money. They simply guarantee the loan. If you were to foreclose on your loan for any reason, the department of Veterans Affairs would send your lender a check for 25% of your loan balance. That's the only thing the VA does. Think of it this way; every veteran has a 25% entitlement guarantee from the VA loan. For example, if I were buying a home with a non-veteran who is not my spouse, the VA would reduce my guarantee in half. In other words, we would have to come in with a 12.5% down payment. That 12.5% down payment is half of 25% because I'm purchasing the home with a non-veteran. For example if a veteran is using a $100,000 loan, the veteran would need to come in with a $12,500 down payment. This is really the most important thing veterans and active duty service members need to be aware of when purchasing a home with a non-veteran. Yes the VA Joint Loan can be done. Remember, the VA HAS TO APPROVE IT. We'll take your loan package to the VA to get their stamp of approval.

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