May 21, 2008 • June Walbert
Q: My husband was in the Vietnam War and was honorably
discharged. He died almost seven years ago from a heart condition. I
have not remarried and would like to know if I still can quality for a
VA loan as his survivor.
-June, Wheaton, IL
A: I'm so sorry for your loss. Generally, Department of Veteran's Affairs
(VA) Loans are available to active duty servicemembers after 180 days
of service or six years in the Selected Reserve. There are a host of
other eligibility criteria and dates that you can view at www.va.gov.
As an unmarried surviving spouse of a veteran you could be eligible if
your husband passed away from a service-connected disability. I
recommend you contact the VA eligibility center at (888) 244-6711.
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Based on your information, your fiancé would certainly qualify for the VA Home Loan Program, however, the VA does not make loans for raw land. According to one of their telephone representatives, you must buy the land first and at that point he may apply for a VA guaranteed construction loan. The VA would give the builder the funds for the construction of the home and once the home is built, then the house can be financed through a typical VA mortgage loan. Hope this helps!
Posted by: June Walbert | May 22, 2008 at 02:12 PM
my fiance currently paying interest loan for the land he bought in 2006. He would like to know if he can use va loan to refinance the loan... he was in army for 4 years and his six years service reserve was finiched last year
Posted by: karen miller | March 18, 2008 at 03:13 PM