I am an eligible veteran and want to purchase a home in Georgia. I am currently overseas working for a military contractor and want to buy a home where my wife and children currently live. I read that the VA requires the home be owner occupied and wanted to know if there were any exceptions to this rule for family members.
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Yes, your wife and children can satisfy occupancy as this would fall under "geographic bachelor" for VA. It's helpful if you can show the kids are enrolled or document ties to the community to prove they will really be living there until you come home.
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Spouses and dependent children (under qualifying circumstances for the children) do meet the VA loan occupancy requirement in any case, but no other family member (the borrower's parents, siblings, aunts, uncles, etc) would qualify. Furthermore, if the home is your permanent residence and you're overseas on a "contingency basis" such as a TDY, deployment, etc, the VA would consider you an owner/occupier regardless of the fact that you have been deployed. Military contractor work may or may not fall into this category depending on the nature of the employment so it's best to discuss specific circumstances with the lender when in doubt.
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