I have successfully originated over 200 VA Home loans in Kentucky. Put my experience to work for you. Call or text me today at 502-905-3708 or email me at Kentuckyloan@gmail.com-This website is not affiliated with the VA or any other government agency. NMLS #57916 Equal Housing Lender. Same Day Approvals, Fast Closings, and a Local Veteran offering VA Home Loans in Kentucky. Free Credit Report and Pre-Approvals NMLS# 57916 Joel Lobb Loan Originator, Company NMLS ID 1738461 . Equal Housing Lender
Category: Kentucky VA Homes for Sale
Kentucky VA minimum property standards for a VA Mortgage Approval
Kentucky VA minimum property standards for a VA Mortgage Approval
The view and opinions stated on this website belong solely to the authors, and are intended for informational purposes only. The posted information does not guarantee approval, nor does it comprise full underwriting guidelines. This does not represent being part of a government agency. The views expressed on this post are mine and do not necessarily reflect the view of my employer. Not all products or services mentioned on this site may fit all people.
NMLS ID# 57916, (www.nmlsconsumeraccess.org).
Generally, Overtime, Part-Time, Second Jobs, and Bonuses cannot be considered stable and reliable unless it has continued and been verified for 2 years.
However, Kentucky VA guideline
Generally, Overtime, Part-Time, Second Jobs, and Bonuses cannot be considered stable and reliable unless it has continued and been verified for 2 years. However, Kentucky VA guidelines allow the lender to offset debt of 6-24 months in duration with this income.
Reference: VA Handbook – Chapter 4 – Section 2(h) “The lender may use this income, if not eligible for inclusion in income, but verified for at least 12 months, to offset debts of 6 to 24 months duration. An explanation of why the income was used to offset must be documented.”
This little-known secret in the guidelines could help your borrower qualify by reducing the debt included in their qualifying ratio!
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Joel Lobb Mortgage Loan Officer Individual NMLS ID #57916
American Mortgage Solutions, Inc. 10602 Timberwood Circle Louisville, KY 40223 Company NMLS ID #1364
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