√ Can A Divorced Military Spouse Get A Va Loan

Can A Divorced Military Spouse Get A Va Loan

5/17/2021

To be eligible to apply for a VA loan as a spouse of a deceased veteran you or your deceased spouse must have met certain conditions. However if the civilian spouse is a cosigner they are eligible to remain in the home without the service member living there.

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Lender standards state law and other factors will affect your transaction where applicable.

Can a divorced military spouse get a va loan. For spouse dependent child. As a general rule when a military spouse divorces their partner they lose the benefits they previously enjoyed as a military spouse. Download VA Form 26-1817 PDF Youll also need the Veterans DD214 or other separation papers if available.

It can get complicated when divorce is involved after you have a VA loan together. With this in mind if the individual chooses to not keep the home or the spouse can not pay for. Get military service records online.

Now a veterans death does not have to be duty-related for the widow to become eligible for VA home loan benefits. That does NOT mean that spouses cannot be homeowners co-borrowers or co-signers on a VA mortgage. If the spouse got a general power of attorney to take out a loan on the veterans behalf when the couple were still married that would be a separate issue but a non-veteran cannot initiate a VA home loan on behalf of a veteran.

Unfortunately divorce can take a toll on finances and potentially affect your VA loan eligibility. VA Benefits for Divorced Spouses. The veteran had at least 20 years of service but only 15 years overlap between the service and the marriage your ex-spouse can receive healthcare benefits for 1 year after the divorce.

However this is not always the case. When the property is awarded to the veterans spouse as a result of the divorce entitlement cannot be restored unless the ex-spouse refinances the property and or pays off the VA loan in full or the ex-spouse is a veteran who substitutes their entitlement. By Christine Funk JD.

Ultimately while disability payments could not be divided in a divorce settlement the income is taken into account when determining child support and maintenance payments. Apply for a Certificate of Eligibility COE for VA home loan programs to buy build repair or refinance a home. If this is the case the individual can live in the home and solely pay the mortgage as part of the divorce settlement.

The bottom line is spouses with credit or debt issues might have to stay off the loan which can limit the veteran borrowers purchasing power. In 2017 the Supreme Court ruled states could not order a veteran to make extra payments to a spouse. There are many ways in which a getting a divorce can have an impact on VA loans.

First lets look at a scenario where the VA loan is only filed under the veterans name. The big reason why many veterans choose to not follow down this path in divorce is due to the fact that they are unable to receive two VA loans at once and therefore would need to find another way to pay for a house if they left the current home in possession of their ex-spouse. If you were married for at least 20 years.

The VA has very strict occupancy requirements on who can and cannot live in a home purchased using a VA loan. Home loan programs or financial counseling. What happens to a current VA loan after divorce and getting a new VA loan after divorce.

Generally your spouse must have served during a period of war for at least 90 consecutive days or for at least 180 days if he served during peace time. The military member has performed at least 20 years of service that is creditable in determining eligibility for retired pay the member does not have to be retired from active duty. The former spouse was married to the military member for at least 20 years at the time of the divorce dissolution or annulment.

Lets go ahead and start off with the basics. In either scenario the military spouse becomes whats known as a non-purchasing spouse. The VA loan rulebook makes it clear that the VA loan benefit is specifically tied to the veteran.

This is also true of getting a divorce while the obligated spouse is still paying on a VA mortgage. The veteran would have to agree to be obligated on the VA home loan. Those are the basic rules for divorce.

New law extends VA loan eligibility to more surviving spouses. VA Benefits for Divorced Spouses. This is an important detail to remember when considering divorce issues between military and non-military spouses.

Or if youre having trouble making mortgage payments on a VA-backed loan get help to avoid foreclosure and keep your house. For an ex-spouse who is not a veteran the divorcedseparated spouse would not have access to the VA benefit unless there is active participation by the veteran. Well look at two common scenarios below.

After the VA loan is processed the guaranty will remain with the mortgage even if the borrowing veteran or member of the armed forces stops living there. By Christine Funk JD. The VA loan guaranty is only available due to the veterans eligibility for the loan.

For some benefits they may continue to enjoy the benefit. Youll need to fill out a Request for Determination of Loan Guaranty EligibilityUnmarried Surviving Spouses VA Form 26-1817. Veterans with sufficient income can also opt to be the sole borrower.

VA loan assumptions may also be possible when a legally married couple are divorcing and the non-military spouse wants to take over the loan or when a co-borrower wants to get out of the loan but the other borrower s do not. Community property laws may require the qualifying veteran spouses participation in the initial loan process but the degree of obligation beyond that point may depend on state law. If youre receiving DIC benefits.

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