Can you get a VA loan with your fiancé?

We get asked a lot about financing options for a Veteran and their fiancé, especially as new couples prepare to make their first big investment together. If a couple is not legally married at the time they apply for a VA loan, can they be considered married in regards to guaranteeing the loan?

It is true that a non-veteran can be a co-borrower on a VA loan. If the Veteran and their non-vet spouse want to borrow together, there is no down payment. If a veteran and a non-spouse, non-vet want to borrow together, they have to make a down payment of 12.5% of the purchase price. 

The VA Lender’s Handbook addresses this situation in Chapter 7 under “Joint Loans.” This section states that a veteran and their fiancé can apply for a VA loan together the same as a married couple. However loan approval depends on the couple becoming legally married prior to the loan closing. In this case, the VA will guarantee 100% of the loan, as opposed to treating the application as a joint loan in which the VA only guarantees the Veteran’s half of the loan. This means it is likely that documentation of a legal marriage will be necessary before the loan is approved. 

Marriage is a big personal and legal decision to make. If you and your fiancé are considering purchasing and want to look at financing options and timelines, contact us! We can help you decide when is the best time to purchase with consideration for your future plans as a couple.