Here's How You Get Approved for a VA Loan
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- čas přidán 5. 09. 2024
- Over the years I've learned that many people may feel intimidated when it comes to the VA Loan qualifying process. I suspect the reason behind this is because nobody has ever really taken the time to explain the process in detail to the Veteran or Active duty Servicemember. The truth is it's not difficult if you're prepared and know what to expect. In this video I give an overview of what Veterans and Active Duty Military should prepare for if there interested in using their VA Loan.
WE SERVE VETERANS NATIONWIDE with ALL of their VA Home Loan Financing Needs.
TIMESTAMPS:
00: MAKING SURE YOU UNDERSTAND
00:36 - MINIMUM CREDIT SCORE REQUIREMENTS
1:44 - INCOME REQUIREMENTS / RESIDUAL INCOME
2:25 - EXAMPLE OF VA RESIDUAL INCOME CALC
4:00 - DOES VA CARE BOUT YOUR DTI?
4:52 - JOB REQUIREMENTS FOR VA LOANS
5:52 - INCOME DOCUMENTATION NEEDED
Contact me:
1. Check your eligibility and receive a personalized evaluation of your VA Loan: connect.valoan...
2. Email me at jimmy@valoansforvets.com
3. Book a FREE 15 minute phone call with Jimmy
outlook.office...
#valoans #vahomeloan #veteran #homebuying #mortgage #veterans #valoan
Jimmy Vercellino, Mortgage Loan Originator/Regional Residential Mortgage Director NMLS 184169 at First Western Trust
Corporate NMLS 477166
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This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates and programs are subject to change without notice. All products are subject to credit and property approval. Other restrictions and limitations may apply. Equal Housing Lender.
Thanks for watching!! Here's how to get in contact with me!
1. Check your eligibility and receive a personalized evaluation of your VA Loan: connect.valoansforvets.com
2. Email me at jimmy@valoansforvets.com
3. Book a FREE 15 minute phone call with Jimmy
outlook.office365.com/book/BookaConsultwithJimmyVercellino@myfwus.onmicrosoft.com/
Thank you Jimmy, your videos are helping us put our ducks in a row. First timers.
My pleasure Holly!
I hope you’re still doing this in 2 years when I get out, I think I would like you to help me with my first home purchase in the future❤
I don't plan on going anywhere! :-)
Glad I’m working with you Jimmy. James R
Me too!
I just received my VA disability letter for 100% service connected. Total and permanent. I also have my Navy retirement, which is $1859 a month. I think my credit score is 654 now. Car payment is $220 a month. I did an application to forgive rest of student loans for 100% p and t va disability. Should I wait for I get my student loans forgiveness first?
You can, however, it may not be necessary. We can set up your loan showing those student loans omitted and once you have the documentation we can upload it to the file. So if you'd like you can start the process now. jimmy@valoansforvets.com
Am I too poor for a VA loan? I make 35k-40k a year and wanted to get my own place and have roommates. I am a woodworker getting stiffed at 18$ an hr, depressing times. 50k in stocks for down payment. Just found your channel and am studying up. I am miserable renting from someone and not being able to control who I live with.
Hey Man - let's schedule a time to connect to get you going in the right direction. Can you email me at jimmy@valoansforvets.com ?
Can you do a video on explaining if you do have a late payment or a couple late payments within a year time frame? I have a 650/680 score with a great debit/income ratio...but unfortunately I have a couple lingering late payments from 8 months ago. Can't get approved.
For sure. In the meantime, I would say you'd want to have a 12 month clean payment history to be ready to roll. You're almost there. Let me know if I can answer any other questions in the meantime. jimmy@valoansforvets.com
"Thanks Joe" 🤣🤣💪
🤣🤣💯💯💪💪
What if I’m getting out in six months? Will that reflect poorly on my pre approval application?
Good question. We’ll need to have a hire letter lined up for your next civilian employer.
Whooaaaaa never knew this
Most Veterans don't!
So should I be doing the risidual analysis or the lender or both?
Your lender is responsible for doing it and running it thru the VA Loan analysis but you can certainly do it as well. Hope you're enjoying the videos Franklin.
Where can I talk with you to talk about my situation?
@@chazcobian5242 jimmy@valoansforvets.com
I’m 18, joined the Guard , going to do my minimum active days for VA loan. Would it be possible to “house hack” using the VA loan? Or what would be the best way to do that.
You can purchase a home on active duty with 90 days. In my experience that has never happend. Typically active military won't be ready to purchase until they've finished boot camp and shcool and arrive at their duty station. But yes, you can househack. I have videos on that ;-)
Hello. What can i do or do you have any tips to negotiate buying a house using VA loan like For discounts and low interest rate. Do i negotiate first before sending all the documents they need, or before starting the whole process.
Good question. I would say discuss with lenders first, choose one, then start the process with the one you choose.