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VA MORTGAGE HOME LOAN

 

 

 

 VA Mortgage 100% Financing Qualifications


 


WHO IS ELIGIBLE FOR VA FINANCING?


 


Generally, the following people are eligible:

• Veterans who meet length of service requirements
• Servicemembers on active duty who have served a minimum period
• Certain Reservists and National Guard members
• Certain surviving spouses of deceased Veterans



KEY VA LOAN UNDERWRITING CRITERIA:




• No maximum debt ratio; however lender must provide compensating factors if total debt rati over 41%.

• No maximum loan amount; however, VA does limit its guaranty; Veterans can borrow up to $424,100 without a down payment in most of the country. Find out the limit in any county.

• Published residual income guidelines to ensure Veterans have the capacity to repay their obligations while accounting for all living expenses.

• No minimum credit score requirement; instead VA requires a lender to review the entire loan profile to make a lending decision.

 








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Pruitt Miller Realty Group
Charlotte, NC 28262

704-965-3319
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