The VA Home loan is truly one of the last great loans available to the men and women who have served our country.  It offers 100% Financing to a certain county limits as defined by the VA.  (For your county limit, please check HERE).  There is no mortgage insurance like an FHA loan, and there are certain fees that anybody applying for a VA loan cannot pay for in closing of the loan.  These are knows as "Non Allowable" costs.  The VA loan is available to veterans, current active duty, National Guard and reserve members. 

Did you also know that it is available to a spouse of a veteran. under certain conditions?

  1. Un-remarried spouse of a Veteran who died while in service or from a service connected disability, or
  2. Spouse of a Service member missing in action or a prisoner of war
  3. Surviving spouse who remarries on or after attaining age 57, and on or after December 16, 2003
    (Note: a surviving spouse who remarried before December 16, 2003, and on or after attaining age 57, must have applied no later than December 15, 2004, to establish home loan eligibility. VA must deny applications from surviving spouses who remarried before December 6, 2003 that are received after December 15, 2004.)
  4. Surviving Spouses of certain totally disabled veterans whose disability may not have been the cause of death 

 

While difficult to discuss, spouses are able to still use VA benefits.  Do not let that dream fade away.  In addition, to being able to qualify for a VA loan, the surviving spouse of a veteran who died in service or from a service-connected disability will not be required to pay the standard funding fee on a VA loan.  This fee is typically 2-3% and is waived by the VA.

Normal loan qualifications will still apply.