I am not sure if I want to buy a home at my age of 59 but can my VA home loan benefits in N.C. be given to my children in AL. and can I divide it among them so there is no fuss by steven_lalloway579 from Charlotte, North Carolina. Jul 15th 2015
in short no you can't, its only yours or a surviving spouse in certain cases.
No, answer from John above is correct. In general it is ONLY for your use. There is no issue with being qualified for a mortgage at 59 if that is what you want. Just the normal process of verifying you qualify based on credit, income, assets and other expenses. I've had customers in their 80's who figure they are eithe rgoing to be paying rent or a mortgage and prefer a mortgage so they own the home and have something to leave to a spouse or other heirs, or eventually to sell and have some cash for their other needs down the road. Good luck considering options, I'd appreciate the opportunity to help with the financing if you decide to purchase!
No they can't. But you can leave them a house in your will. Many people still buy homes at 59 and much older. I would look at the cost vs. benefit to see if buying a home will make sense or not for your personally.
Ask our community a question.