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## Seeking Approval for a VA Loan with Joint Incomes – Are Unmarried Couples Allowed?

We are in the process of searching for our first home and are interested in applying for a VA loan. We would like both of our incomes to be considered for preapproval. However, we are not married. The first bank we approached for preapproval stated that this may not be allowed. Before we explore other options, we are curious if this is a common practice across different banks.

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  • LoanSlinger

    You can, but it would be considered a “Joint Loan,” and you’d need to make a 12.5% down payment. There are a couple extra guidelines, and the and lender might have to submit for “prior approval” with the VA.

    Just an FYI – if you’re in a common law marriage state like Colorado, you don’t need a marriage license to be considered married. If you have joint assets and live together, and you hold yourselves out as a married couple, you can legally apply as married on a VA application. The lender does not need proof of marriage, and in this case, you would be able to apply for a VA loan with $0 down.

  • KCPilot17

    Don’t buy a house with someone you’re not married to.

  • sels1997

    Why would you do that to yourself

  • Thunderbird_12_

    Don’t be that stupid.

    Never. EVER. [In my “Smokey from Friday” voice] Eeeeeeeva-eva-eva-eva-EVA. Buy a house with someone you aren’t married to.

    Sure, you’re going to be together “forever.”

    Sure, you both agree on everything. And he is always fully supportive.

    But, the list of shit that can go sideways is LONG and sometimes may have nothing to do with whether you two are happy together or not.

    Either get married and THEN buy a house TOGETHER (with both names on the loan,) or, one of you buys the house SOLO, so there’s only ONE person responsible for the mortgage. (If the other person wants to contribute, they can pay you in cash.) If neither of you can afford to buy solo, and you don’t want to get married yet, then keep renting and saving until you get married or one of you can afford to buy solo.

    But two unmarried people buying a house together is a recipe for disaster.

  • ihavethetrillmindset

    No. But you wouldn’t want to anyway.

    What you want to do is both buy separate houses (preferably duplexs) and then house hack. You both should own a home before getting married and have roommates pay your mortgages. Or if you buy the duplex, have someone move into one unit while you live in the other one. If you both do this you will generate serious wealth and then once you are married you’re already set up for success with each having a real estate property.

    When y’all get married, one of you can either sell one of your properties and yall move into the other one together OR you both keep the properties, rent the entire property out and buy a new house TOGETHER and live in that one. The reason each having a duplex is so nice is because if y’all eventually get married and buy a new home together to live in, you’ll have FOUR DOORS you’re renting out that’s paying for itself and you’ll likely be cash flowing as well.

    I hope all of that makes sense, feel free to critique and ask questions.

  • SBrookbank

    ask local realtors, how long it takes to break even on the selling of a home depends on the market

  • sextoymagic

    HE can. And He probably doesn’t need a co sign.