Posts Tagged “VA Specific power of attorney”

Many Veterans and their families ask this question: Can the Veteran (homebuyer) who knows he/she is about to be deployed, purchase a home using a VA loan with the intention of occupying the property?
Yes and No!
Yes in that the Veteran can actually sign the initial Loan application and then ‘take off’ (be deployed), leaving a specific Power of Attorney for his trusted family member to execute to continue and complete the home purchase.
The Veteran must return home for a brief period within 6 months

The Veteran must return home for a brief period within 6 months (even for Rest & Recuperation) -for more details on this visit http://www.army.mil/article/49091/

The Veteran must purchase in the immediate vicinity of where he/she is stationed, and not their hometown necessarily. This means a Veteran who has been relocated to Camp in South Carolina for example, from California could not purchase an owner occupied-home in California at that time.

Another requirement is the need for an “Alive & Well Letter” immediately prior to the funding of the VA loan; this can be obtained from the Unit he/she is serving in.

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