VA Loans: Benefits of a Spouse

Cris Pacheco

Cris Pacheco

Cris is the Vice President for VA Home Loan Production at EZ Fundings and lives a purpose driven life. He is a proud veteran (USMC/1833) and has been in the civilian world since 2018. He absolutely loves working with the Military & Veteran Community, giving back to those that have given so much for our beloved country.

VA Loans and benefits of spouse

The veteran’s family may be affected negatively after their demise in a military service casualty. It can be difficult for the surviving spouse to cope with the loss and provide for the family. The dream of homeownership may seem far-fetched. But don’t worry, the VA offers amazing benefits to the surviving military spouses, including the federal loan guarantee. This means you, the surviving spouse of a veteran, may qualify for the VA-guaranteed mortgage.

Here’s more on how you can qualify for VA Loans and benefits as a spouse:

Eligibility Requirements

To qualify for VA loan benefits, you must meet any one of the below requirements:

  • You are the surviving spouse of a veteran who passed away during service or from an injury related to their service and have not remarried.
  • You are a surviving spouse of a veteran missing in action or a prisoner of war.

If you qualify, you can use the VA loan benefits repeatedly for as long as you have ample entitlement.

Benefits of a VA Loan for Surviving Spouses

The loan benefits of a VA surviving spouse are similar to those received by the active military personnel or veterans. Some of the VA loan benefits include:

  • Exemption from the VA funding fee (this is, in general, around 0.5 and 3.3 percent)
  • A VA streamline refinance (please note you may be eligible for this if you, the spouse, obtained a joint VA mortgage before the veteran’s death regardless of whether their death was duty-related)

Wait, there’s more! If you, the surviving spouse, pay back the VA mortgage in full and dispose of real estate property, then you may benefit from the entitlement restoration. This means you can use the program repeatedly.

Moreover, to obtain entitlement restoration, you will have to submit the VA form 26-1880 to the Department of Veterans Affairs.

In addition to this, there are also other VA loan benefits.

VA Loans and benefits of spouse

Take the Big Step

So, what are you waiting for? Realize your dream of homeownership. This is the ultimate way to ensure your children have their own home even when your veteran spouse is not around. Contact us for more information on VA Loans and benefits of a spouse or service assistance.

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