Can Unmarried Borrowers Get a VA Mortgage?
Let us first examine the benefits of getting a Veterans Administration (VA) mortgage loan before answering the question. The main advantage of a VA mortgage loan is that it is guaranteed so that the borrower need not pay private mortgage insurance or PMI to get a home loan without a required down payment. In most cases, a veteran may be able to borrower up to 100 percent of the selling price of the property as long as it does not exceed $417,000. It should be noted that the VA does not act as the lender but only guarantees the loans for a veteran. Also, the VA may only provide a guaranty to a veteran or military person subject to certain requirements such as a good credit score. Being a veteran does not automatically ensure eligibility for the VA guaranty. It is important to consult a credit counselor or financial planner in determining eligibility and in preparing the required documents. An easy way to obtain proof of eligibility for a VA mortgage loan is through the online service kn
