Using father’s VA loan benefit

[Farheen Naveed]

Hello Bigger Pocket,

My father is a veteran and he never used his VA Loan to buy a home. Can we use his VA loan as co signer to buy a property while we take care of all down payment and monthly mortgage payment. How is it doable to use it? Is there better option than VA loan?

[Zack Karp]

@Farheen Naveed No.

He can buy a home as a primary residence. That's his only option with his VA loan. And if any non-spouse were to co-sign, it would require a 12.5% down payment. And he cannot be a non-occupying co-borrower using his VA loan benefit.