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Please help! Underwriting with a VA loan!

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Anonymous
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Please help! Underwriting with a VA loan!

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!!

Message 1 of 9
8 REPLIES 8
kc0039
Established Contributor

Re: Please help! Underwriting with a VA loan!

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

Licensed in IL
Message 2 of 9
Anonymous
Not applicable

Re: Please help! Underwriting with a VA loan!

Thank you for the reply and info! We found out this morning it was approved!

Message 3 of 9
DallasLoanGuy
Super Contributor

Re: Please help! Underwriting with a VA loan!


@Anonymous wrote:

Thank you for the reply and info! We found out this morning it was approved!


 

way cool

 

Retired Lender
Message 4 of 9
Geordi
Regular Contributor

Re: Please help! Underwriting with a VA loan!


@Anonymous wrote:

Thank you for the reply and info! We found out this morning it was approved!


Congrats

Message 5 of 9
Anonymous
Not applicable

Re: Please help! Underwriting with a VA loan!

What lender are you using?
Message 6 of 9
Anonymous
Not applicable

Re: Please help! Underwriting with a VA loan!

4 days and it was approved? Wow.
Message 7 of 9
Anonymous
Not applicable

Re: Please help! Underwriting with a VA loan!

Congrats!! That is awesome. Good luck on your new home!!

Message 8 of 9
Anonymous
Not applicable

Re: Please help! Underwriting with a VA loan!

Thank you! The lender is DHI mortgage, the in house lender for DR Horton
Message 9 of 9
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