We have been approved for the max VA home loan (417k). Here's my concern/question...
I called a total of 3 mortgage companies to first see if I can afford the max loan. Only one place said yes while the others came up with something way less ($250k). Can someone please help explain the discrepancy? Here's our senario:
Annual Income: 88k
Auto Loan payments: $1100/mo
Student Loan Payments: $200/mo
No credit cards bills, or other obligations.
Money in bank: $2k
If I do my math our debt to income ratio would only be about 51-52% with the existing debt plus our new mortgage payment.
Can someone please help?
