It is True. You can use your VA loan with a non-spouse co-borrower who is ALSO not a Veteran.

A VA loan is a government-backed mortgage for a qualifying Veteran or Service member.  In these cases, with a non-spouse co-borrower who is also not a Veteran, they’re usually going to require a down payment of 12.5 percent to 14.5 percent.

Why the strange calculation? The VA typically guarantees, or insures, 25 percent of the Veteran’s loan. Having only one VA-eligible co-borrower on

A Veteran can choose to pay above appraisal value, but the difference above the appraised value is a closing cost and not part of the loan. It also cannot be covered by credits and must come from the Veteran’s funds (which can include gift funds).

Pest repairs can also be paid for by the Veteran. It is often a far better use of funds than putting in a down payment or having mortgage insurance with other loan options that don’t require

Reality: VA loans have the historically lowest default rate of any loan type, which means the buyer can afford the home with $0 down payment. Veterans are also some of the best at repaying their loans and honoring their commitments in borrowing money.

Actually, that is not true. You can access Split Entitlement.  The calculations are a touch more complicated, but our Vetted VA Loan Officers will be able to walk you through the qualifications, remaining entitlement of your benefit, and how to utilize the benefit.