video: Understanding Joint VA Loans


When two or more veterans seek a VA loan additional rules and guidelines apply. This Fast Forward Stories video explains the basics.

Official VA guidelines state that strengths of one veteran related to income and/or assets may compensate for weaknesses of the other.
satisfactory credit of one veteran cannot compensate for poor credit of the other.

When one of the borrowers is NOT a veteran the guidelines are slightly different.
In that case the income of the veteran has to be sufficient to repay their portion of the loan.
Income strength of the non-veteran spouse cannot compensate for income weakness of the veteran in determining eligibility.

Finally, for joint loans where any party besides the veteran and/or their spouse will hold title to the property VA review is required.
The VA Lenders Handbook - VA Pamphlet 26-7 - has more details.

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