VA Loans in Community Property states
There are nine community property states: Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington and Wisconsin.
In a community property state any property acquired during a marriage and any debts incurred are the responsibility of each married couple equally. For the purpose of obtaining a VA loan in a community property state, both spouses’ debts are considered, even though one spouse may or may not be a co-borrower. For this reason a credit check is required, because all debts are listed on the credit report.
If one spouse is not a co-borrower, his/her income will not be considered, and the income of the spouse applying for the loan must support all the debts of each.
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