VA LOAN CAPTAIN BLOG & Learning Center

Surviving Spouses and the VA Home Loan

By: Grant Moon 12/17/14 12:18 pm

Honorably discharged veterans are certainly eligible for the VA home loan benefit as are most active duty service members. So too are members or veterans of the National Guard or Armed Forces Reserves with at least six years of service. Another class is eligible, spouses of veterans under certain conditions. Which spouses may take advantage of the VA home loan program?

An unremarried spouse of a veteran who died while in service or from a service related disability qualifies. If the service member is officially classified as missing in action or as a prisoner of war, the spouse may also be eligible. One of the key phrases here is “unremarried” but even then there are conditions which can make a surviving spouse eligible. If the spouse remarried after the age of 57 and after December 15, 2003, the spouse may then apply for a VA home loan and obtain a certificate of eligibility. If the veteran is classified as totally disabled, the spouse may also take advantage of the program.

The ability to transfer this home loan benefit to a surviving spouse can help that individual buy and finance a home with no money down and reduced closing costs is yet another reason why the VA home loan program is absolutely the best no/low money down mortgage program in the market today. Yet few surviving spouses ever apply for this benefit as they’re likely not aware they’re eligible. If you know someone who fits this profile, let them know about it. You’ll be doing them a great favor.

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