Can Multiple Borrowers Be On A VA Home Loan?

A  borrowing veteran and his/her spouse can be borrowers for a VA home loan.  The veteran and her fiancee can not.  The service member and his girlfriend can not.  Only spouses can be co-borrowers on a VA home loan……

Both borrowers are eligible for VA home loan benefits.  An example:

Bill is an active-duty, Petty Officer Second Class.  As an E-5 without dependents, Bill receives $1,650 for his housing allowance and about $200 for his sustinence.  He earns about $2,400/month in base pay.  With monthly obligations of $400, he qualifies for a home loan for $150,000-$175,000.  While that may help him buy a condo, in San Diego, Bill has his eye on a single-family home.

Bill’s ship mate, Frank, is also an E-5 with similar benefits and monthly expenses.  Frank has VA eligibility and can be a co-borrower with Bill.

If Bill chose to have his father, a former Navy yeoman (from the Vietnam service era) buy and live in the home with him, he would be an eligible borrower.  If Bill’s father were deceased, his mother may have “inherited” her late husband’s VA eligibility if she hasn’t remarried.

Marriage is the only relationship outside of shared VA eligibility that allows for a non-eligible co-borrower.

PS:  Happy Birthday, US Navy.