“No Problem, We’ll get Married Right Away”

      “No Problem, We’ll get Married Right Away”





Thank you for educating us on VA mortgages. Here are answers to some of the questions that you asked. The modification was approved in November of 2014 and was modified in March of 2015. My ex-wife and I started a loan modification because I was laid off from my job for almost a year. There was no deficiency when the property was sold.  Subsequently, BOA modified the loan under the settlement with the Department of Justice as seen in the attachment. We sold the home in October of 2015.


The price range we are looking at is between $200,000 and $240,000. Since I now know we can’t use my fiancé income unless we are married, it will mean that we have to move up our marriage. I will have that discussion with her today.


In order to use both incomes for a VA mortgage for these folks, they need to be married. Unfortunately in this situation the veteran doesn’t make sufficient income to qualify for a VA mortgage on only his income.


They would qualify for an FHA loan but a 3.5% down payment would be required and there would also be monthly mortgage insurance. A VA loan was definitely the best solution, as the monthly mortgage insurance would add about $150 to the mortgage payment and a $7,000 to $8,500 down payment would be required.


The good thing here, they were planning on getting married this Spring or Summer.

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Joe Petrowsky, NMLS #6869

Right Trac Financial Group, Inc. NMLS #2709

110 Main St.

Manchester, Ct. 06042

Office: 860 647-7701 x116

Fax: 860 647-8940

Cell: 860 836-9294

Email: joe@righttracfg.com



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Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.

Equal Housing Statement: We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing becuase of race, color, religion, sex, handicap, familial status, or national origin.

Comment balloon 8 commentsJoe Petrowsky • January 18 2017 08:15PM


Good info Joe! It seems discriminatory but its a benefit earned by the GI, not random folks who are not yet family. I am sure it has changed a few wedding dates over the years.

Posted by Dennis Swartz, MBA, GRI...experience counts! (Full Circle Property Management) over 2 years ago

Joe Petrowsky An interesting story. I know you've heard it many times before, but was this the second marriage for one of them? First time for love, the second for money!

Posted by Sandy Padula and Norm Padula, JD, GRI, Presence, Persistence & Perseverance (HomeSmart Realty West & Geneva Financial, Llc.) over 2 years ago

Good morning Joe. The savings and qualifying are worth moving up the date! Enjoy your day!

Posted by Wayne Martin, Real Estate Broker - Retired (Wayne M Martin) over 2 years ago

Hi Joe... so long as he didn't have to advertise for a bride to qualify for the loan, all is good!

Posted by Nina Hollander, Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor (Coldwell Banker Residential Brokerage ) over 2 years ago

As a veteran, I know the value of a VA home loan. It is a well deserved benefit for those that have sacrificed so much for our country.

Posted by Nathan Gesner, Broker / Property Manager (American West Realty and Management) over 2 years ago

Well, if you are going to get married anyway why not. I certainly wouldn't get married just to get a loan. Glad it worked out for them.

Posted by Joe Pryor, REALTOR® - Oklahoma Investment Properties (The Virtual Real Estate Team) over 2 years ago

Good afternoon Joe. Seems like your customers have their act down. Enjoy the day.

Posted by Sheila Anderson, The Real Estate Whisperer Who Listens 732-715-1133 (Referral Group Incorporated) over 2 years ago

Thanks, Joe, for sharing this story.

Have an outstanding weekend.

Posted by Roy Kelley (Realty Group Referrals) over 2 years ago