Reply
Frequent Contributor
Posts: 489
Registered: ‎02-07-2010
0

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: 635 (15 APR 2015), Equifax: 685 (15 APR 2015), Experian: 662 (15 APR 2015)
Goal Score:All scores All scores at least 680+ by Jan 2016!!

Take the FICO Fitness Challenge
Established Member
Posts: 23
Registered: ‎04-04-2011
0

Re: VA Education benefits

[ Edited ]

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


Take the FICO Fitness Challenge
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.