VA Joint Loans: How Veterans and Non-Veterans Can Team Up for Homeownership

So, you’re a veteran (first, THANK YOU for your service! 🇺🇸), and you want to buy a house. But maybe you’re not doing it alone—you’re teaming up with a non-veteran. Now you’re wondering, Can we use a VA loan together? The answer is YES! It’s called a VA Joint Loan, and it’s one of the lesser-known but highly useful benefits of the VA loan program.  But before you get too excited and start Zillow-scrolling, let’s break down what you need to know about this unique loan type.

What Is a VA Joint Loan?

A VA Joint Loan allows a veteran to purchase a home with a non-veteran who isn’t their spouse. This could be a friend, family member, or business partner. Unlike a traditional VA loan (which is strictly for veterans, active-duty service members, or eligible surviving spouses), this loan structure lets you share the mortgage with someone who doesn’t have VA loan eligibility.

The Basics: What You’ll Need to Qualify

✅ At least one borrower must be a VA-eligible veteran.
✅ Minimum FICO score of around 580. (Some lenders may require higher.)
✅ The home must be a primary residence. No investment properties here!
✅ The VA guarantees only the veteran’s portion of the loan. (More on this below.)

How the VA Loan Benefit Works with a Non-Veteran

Now, here’s where it gets interesting. The VA usually guarantees 25% of the loan amount, but with a joint loan, it only guarantees the portion belonging to the veteran. This means the lender is taking on a bit more risk for the non-veteran portion, which could result in a required down payment on their side—but more on that later.

The Benefits of a VA Joint Loan

💰 No Minimum Required Down Payment – The veteran’s portion of the loan follows the usual VA rule: 0% down required. However, the non-veteran may have to contribute a down payment depending on the lender’s requirements.
🚫 No Monthly Mortgage Insurance (PMI) – One of the biggest perks! Unlike conventional loans, VA loans don’t require PMI, which lowers your monthly payment significantly.
📉 Lower Interest Rates – VA loans typically come with more competitive rates than conventional loans, which means long-term savings.
🔄 Flexible Credit Guidelines – That 580 FICO minimum makes VA loans more accessible than many traditional mortgages.

Things to Keep in Mind

⚖️ The Non-Veteran’s Down Payment – Since the VA only backs the veteran’s portion, lenders may require a down payment from the non-veteran borrower. The amount varies, so it’s crucial to discuss this with your lender. 📜 Additional Underwriting – Because VA joint loans are a bit more complex, the approval process may take longer than a standard VA loan. Be patient! 🏠 Occupancy Requirements – The veteran must live in the home as their primary residence.

Final Thoughts: A Smart Move for the Right Buyers

A VA joint loan can be an amazing opportunity if you’re a veteran looking to buy a home with a non-veteran. You still get most of the VA loan benefits, including zero down (on the veteran’s side) and no mortgage insurance, while having the flexibility to purchase with a non-spouse co-borrower.

But here’s the key—before diving in, talk to a mortgage professional who understands the ins and outs of VA loans. The rules are different, and you want to make sure you get the best deal possible.

So, if you’re a veteran ready to team up for homeownership, click HERE and let’s make it happen! 🏡🔥