Marriage Equality: How It Changed The Home Loan Process

On Friday, June 26 2015, the United States Supreme Court ruled in favor of same sex marriages, making it legal in all 50 states. And it all started with a NY same sex married couple case (United States vs. Windsor) regarding rights to estate benefits.
So what does this mean for same sex couples looking to buy a home in NJ?
Our President, Michael Sema, was featured in an article discussing changes for same sex married couples in NJ buying real estate, the mortgage process and VA loans.
Here’s how the Supreme Court Ruling changed same sex married couples’ rights regarding real estate, mortgages & VA Loans:
- Benefits & Protection Laws For All
- Joint Filing Allowed On Mortgage Applications
- Same Sex Spouses & Kids Allowed VA Benefits

1. Benefits & Protection Laws For All
Now all married couples, traditional or same sex, will have benefits and protection. So all the rights afforded to traditional marriages are now extended to same sex marriages.
2. Joint Filing Allowed On Mortgage Applications
Same-sex married couples can now file a joint mortgage application as a household where total income, liabilities and all assets are considered as one submission.
3. Same Sex Spouses & Kids Allowed VA Benefits
Once the Supreme Court made it official that same sex marriages were legal in all states and territories, the Department of Veterans Affairs extended benefits to same sex spouses and their kids.
So now a Veteran’s spouse’s income could be considered to qualify for VA Loan entitlement.

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