Do Family Members Qualify for VA Loans in Colorado Springs?
While dependent family members can help active-duty personnel meet occupancy requirements, the VA is far more selective when it comes to handing out loans. Active-duty personnel, veterans, and other service professionals are eligible for VA loans in Colorado Springs and elsewhere. When it comes to family members qualifying, only un-remarried surviving spouses are considered, given all other eligibility requirements are met.
Only Specific Family Members Qualify for VA Loans
VA home loans are primarily for those that are serving or have served in the military. However, there are instances where family members may be eligible for a VA home loan. Eligible family members include:
Un-remarried spouse of a service member who died in the line of duty, or from disability that was connected to their service.
Spouses of service members that are MIA/POW
Surviving spouses remarrying after age 57 and on or after December 16, 2003
Surviving spouses of veterans totally disabled, where the disability may not be connected to death.
Children are Typically Not Eligible
Dependent children of veterans are typically not eligible for VA home loans unless they personally meet the eligibility requirements for the program. However, the eligible individual can purchase the home and then have their dependent child assume the home loan later on, as permitted by the lender.
Help Is Available for VA Loans Colorado Springs
As an expert in handling VA home loans, Mortgage Solutions Financial can help walk you through the application process and answer any questions you may have. Talk to a loan officer today to discuss what financing options work best for you.