No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
Hello all! My husband and I are doing VA mortgage. Our file just went into underwriting about 4 days ago. Would really appreciate some advice based on our stats if it looks like we will pass? We're pretty worried about this mainly because of the DTI. Could having a DTI of 48% with a va loan ever be approved?? Thanks in advance!
*Loan amount with va funding fee rolled in: 200,215
*husbands score is 701, my score is 730, pulled by lender
*estimated mortgage with taxes and insurance: 1357
*monthly debt before mortgage: 672
*gross pay: 4160 monthly without overtime
*had current job for 1 year and 6 months. Same line of work for 6 years.
*no reserves/savings, will receive earnest money back at closing. Builder is paying all closing costs.
*Roughly 900 in 401k. Only just started 401k with current job after husband got out of army.
Based on this info, does it look like we would "pass" underwriting? Thanks in advance!!
VA loans can go up to 55% granted that the lender has no overlays. 48% should be fine. It looks approvable from this point of view
Thank you for the reply and info! We found out this morning it was approved!
@Anonymous wrote:Thank you for the reply and info! We found out this morning it was approved!
way cool
@Anonymous wrote:Thank you for the reply and info! We found out this morning it was approved!
Congrats
Congrats!! That is awesome. Good luck on your new home!!