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Surviving Spouses of Veterans Qualify for a VA Home Loan

By B Wood
Feb 20th, 2014

surviving spouse va loanMillions of men and women have bravely served in the U.S. Armed Forces. Some have even lost their lives. It is difficult to lose a spouse and the VA offers benefits to make things a little easier financially. Spouses of deceased veterans can qualify for a VA home loan. If that veteran died in the line of duty, or as a result of an injury sustained in the line of duty, the VA funding fee is also waived which reduces the loan closing cost.

How the Spouse of a Veteran Can Qualify

A surviving spouse can use the VA loan benefit if they meet the following criteria:


• Their spouse was killed in the line of duty or as a result of their service related disability and the surviving spouse is not married.

• Their spouse was totally disabled and died, but the disability wasn’t the cause of death.

• Their spouse is missing in action or a prisoner of war.

• The surviving spouse may qualify if they remarried after turning 57 years old and after December 16th, 2003. If they remarried before turning 57 or before that date, the VA will deny the loan.

Benefits of a VA Home Loan

There are many reasons why a VA home loan is a fantastic loan option. These include:

• Zero down payment mortgage loans.

• Low interest rates.

• Purchase or refinance your home.

• Finance multi-family homes that are up to four units (you must live in one as your primary residence).

• Build a home using your VA loan guarantee.

• Purchase a new home and get money to renovate it at the same time.

• Purchase a manufactured home.

• Make energy efficient upgrades to your home.

• Streamline refinances available through the VA’s Interest Rate Reduction Loan program.

A VA approved lender will discuss your goals with you and help you to determine which type of VA loan program is best for you. VA home loans can be easier to obtain than a conventional mortgage loan. For example, if a borrower wanted to purchase a three unit home it may be difficult to find a conventional mortgage with a low down payment requirement. The VA provides competitive financing for multifamily homes as long as you are living in one of the units as your primary residence. Manufactured homes are also difficult to obtain traditionally. The VA makes it easy.

VA Loan Guarantee

The VA doesn’t actually issue mortgages. They insure them. The VA loan guarantee works as an insurance policy for the mortgage lender. If the borrower defaults on their VA home loan, the VA will pay up to 25% of the loan amount directly to the lender. This way the mortgage lender can recoup their losses on the loan. The VA loan guarantee makes it possible for mortgage bankers to issue zero down payment loans since it mitigates the risk.

If you are a veteran, active duty military, or the surviving spouse of a veteran, call a VA approved lender today to learn how you can purchase or refinance your home using a VA mortgage loan.