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VA Education benefits

Established Contributor

VA Education benefits

My wife gets VA Education Benefits (Post 9/11 GI Bill). We wanted to know since this is money she will be getting for the next few years, can this be included in our income we we go to apply for the loan. Our LO didn't have an answer for us and said she would have to check. Maybe someone on the board has been in this situation.


Starting Score:TransUnion: 698 (12 FEB 2010), Equifax: 674 (12 FEB 2010)
Current Score (Lender Pulled):TransUnion: 684 (12 SEP 2016), Equifax: 696 (12 SEP 2016), Experian: 679 (12 SEP 2016)
Goal Score:All scores All scores at least 700+ by December 2017!!

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Established Member

Re: VA Education benefits

http://www.vba.va.gov/ro/houston/lgy/Lender%20Training%20Guide%20May%202009.pdf

 

Note: Temporary income such as VA educational allowances and unemployment compensation do not represent stable and reliable income and as a general rule, are not to be considered as income.

 

That pdf is from 2009 but ive seen the same answer on multiple sites.


Starting Score: 570
Current Score: 776
Goal Score: 800


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