Re: VA loan question… - Posted by Kiersten
Posted by Kiersten on July 04, 2001 at 16:16:46:
VA is certainly leniant when it comes to past issues, but you still have to qualify based on your income (41% ratio) and have to have good credit–especially within the last 1 to 2 years. Any judgments and collections would have to be paid and any past derogatory credit would need to make sense. No lates in the last year unless you have some SERIOUS documentation that justifies why it’s a one time thing. Your child is terminally ill and you didn’t work for two months while he underwent treatment, for instance, will work but “I got behind” will not. C of E just says you can use the program but you still have to fit into the underwriting criteria.