VA Home Loan Reference:

No down payment, no mortgage insurance.

Allows for credit scores as low as 600.

No published debt to income ratio but often times banks will have overlays that cap them at 55% with out compensating factors.

Copy of Check/Wire Receipt and gift letter from donor. No donor statement!

VA Max Seller Concessions is 4%. Unused seller concessions can be used to pay off consumer debt.

Can be used to purchase up to a 4-plex and rents from the adjoining units can be used to qualify as long as borrower has 6 months reserves.

Max entitlement in Alaska is $970,800 (as of 1/1/2022)

A veteran can have more than 1 VA loan outstanding at a time. The veteran can exceed the maximum entitlement if they put down 25% of the difference. Example: A Veteran is purchasing a home for 200,000. They have $150,000 of entitlement remaining. There for they would need to put down 25% of the difference (200,000-150,000=50,000. 50,000*.25=12,500) or $12,500 in order to use a VA loan to qualify. In this instance the Veteran would end up purchasing the home for 6.25% down and still not have to pay any mortgage insurance.

Non taxable income can be grossed up 25%. (COLA, BAH, Disability)

Lender response for VA won’t allow that: Did you confirm that with the Denver office?

VA Funding Fee table: