Can a veteran and non-veteran be on a VA loan together?

Yes!

If the veteran is attempting to qualify for a VA loan with someone other than the spouse, this loan would be considered a joint VA loan. There are different types of joint loans, i.e. veteran & veteran or veteran and non/veteran, but the calculation below applies ONLY to a veteran/nonveteran scenario.

It is possible for a lender to originate this type of loan but the non-veteran is required to come in with a down payment of at least 12.5%. It is important to double check this figure with your loan officer because the VA doesn't set a non-veteran down payment requirement, only the bank originating the loan does. You can check the VA lenders handbook, chapter 7 for confirmation (not there as of the date of this post).

It's essential to verify the current VA loan requirements and eligibility criteria to see if there have been any changes. In the past, the requirements for a VA loan included:

1. VA Entitlement: The veteran must have sufficient VA entitlement, which is a specific dollar amount guaranteed by the U.S. Department of Veterans Affairs to protect the lender in case of default.

2. Certificate of Eligibility (COE): The veteran must obtain a Certificate of Eligibility, which is a document that confirms their eligibility for a VA loan based on their service record. This certificate can be obtained through the VA or a qualified lender.

3. Income and Creditworthiness: The applicants, both veteran and non-veteran, need to meet the lender's requirements for income and creditworthiness. Lenders may have their own underwriting criteria, even for VA loans.

4. Occupancy: The property being financed with a VA loan must be intended as the primary residence of at least one of the borrowers. This means they must plan to live in the property themselves.

5. Property Eligibility: The property being purchased must meet the VA's minimum property requirements and be appraised by a VA-approved appraiser.

6. No Mortgage Insurance: VA loans typically do not require private mortgage insurance (PMI) because the VA provides a guarantee to the lender.

7. Funding Fee: A funding fee is required for most VA loans unless the veteran has a service-connected disability. The funding fee amount varies based on factors such as the down payment and whether it's the borrower's first or subsequent use of the VA loan benefit.