Creative Solutions VA Loans Will Allow to Help a VA Buyer Qualify

How to use Little Known VA Home Loan Guidelines to Buy a Home
How to use Little Known VA Home Loan Guidelines to Buy a Home

Other than the standard things most people know about, VA will allow some little known, creative ways to help a buyer qualify with a VA home loan.

Here are 7 Ways Knowledge of VA Details Will Help Buyers:

  1. The seller can pay off the buyer’s debts as part of the purchase price
  2. The buyer can pay off revolving debts like credit cards without having to close the accounts
  3. On installment loans that are almost paid off, the payments may not have to be counted
  4. Can gross up nontaxable income to help the debt ratio (not for residual though)
  5. VA goes more by residual income rather than debt ratio which can help an approval
  6. A VA buyer can get a 2nd VA loan while having another VA loan
  7. VA is now the only loan that will not count student loans deferred over 1 year from closing
  8. Can count new rental income from lease when converting current residence to a rental

Team Move lends in areas such as Wilmington, Leland, Hampstead, Jacksonville, Camp Lejeune, Whiteville, Shallotte, Southport, Elizabethtown, Lumberton, Fort Bragg, Pope Air Force Base, Sanford, Fayetteville, Southern Pines, Pinehurst, Rockingham, Raleigh, Garner, Smithfield, Clayton, Goldsboro, Charlotte, Greensboro, Winston-Salem, Durham, Chapel Hill, Burgaw, Castle Hayne, Holden Beach, Supply, Ocean Isle Beach, Sunset Beach, Hubert, Tabor City, Carolina Beach, Kure Beach, Laurinburg, Topsail Beach, North Topsail Beach, Surf City, Sneads Ferry, Richlands, Wrightsville Beach, New Bern, Oak Island, Saint James, Wallace, as well as the rest of NC.  North Myrtle Beach, Myrtle Beach, Conway, Loris, Little River, Longs, as well as the rest of South Carolina and Virginia.


Written By: Russell Smith