VA Loans for Military Families
When the VA automatic underwriter analyzes credit for a VA loan borrower, they do take into consideration the whole picture.
Qualify for a VA Home Loan
PROPERTY LOCATION
LOAN PURPOSE
UPDATED for 2012...
VA Limits and BAH Rates
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VA Loan Guidelines

VA Mortgage Debt-to-Income Ratios

According to VA guidelines, borrowers and / or their spouse must qualify according to set debt ratios which are used to determine whether the borrower can reasonably be expected to meet the expenses involved with home ownership.

TOTAL FIXED PAYMENT TO EFFECTIVE INCOME

Add up the total mortgage payment (principal and interest, escrow deposits for taxes, hazard insurance, homeowners' dues, etc.) and all recurring monthly revolving and installment debt (car loans, personal loans, student loans, credit cards, etc.). Then, take that amount and divide it by the gross monthly income. The maximum ratio to qualify is 41%. In the event the number exceeds the 41%, the VA has a residual income guideline which can allow approval, yet are not considered a compensating factor.

VA Loan Articles

Read About News, Updates, and Guidelines

:: VA Loan Rules for Currently Serving Military Members
Currently serving military members who want to apply for VA insured home loans should know about the rules for VA loan applicants within a year of their current re-enlistment, retirement or separation date.

:: Is There an Age Limit on VA Home Loans?
The VA loan benefit is offered to all qualifying veterans who have met their time in service requirements and/or discharge requirements. Some military people use their VA home loan benefits as soon as they are eligible.

:: VA Loan Expenses and the Lender's Flat Fee
VA loans include fees and expenses a borrower is allowed to pay, but the Department of Veterans Affairs also has a list of expenses the bank is not allowed to charge the borrower.

:: VA Loan Limits for 2012 Posted
In 2012, the Department of Veterans Affairs alters the methods used to calculate the VA loan maximum amount. If Congress passes legislation permitting VA to calculate maximum guaranty as it has in the past, the numbers below could increase slightly.

:: Are Appraisals Required for Every VA Loan?
VA appraisal rules insure that a home purchased with a VA insured mortgage is safe and habitable for the borrower; the rules are also designed to make certain the property lives up to VA standards.

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VA LOAN RATES
New Home Loan
National Averages
for 5/27/2012

30 Year Fixed
0.000 points
3.750%
3.837% APR

15 Year Fixed
0.000 points
3.500%
3.655% APR

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