Frequent Contributor
Posts: 460
Registered: ‎02-07-2010

VA guidelines changed?

My wife just called me and she said the BofA LO told her that the VA guidelines changed two weeks ago and the max DTI he can do now is 31%. We're currently at 48%. Is this most likely a BofA guideline or is this a baseline for the VA now. I have an app in underwriting thru NVR and they haven't mentioned this to me.

Starting Score:TransUnion: 698 (12 FEB 2010), Equifax: 674 (12 FEB 2010)
Current Score (Lender Pulled):TransUnion: 695 (26 JUN 2013), Equifax: 636 (26 JUN 2013), Experian: 670 (26 JUN 2013)
Goal Score:All scores 700+ by Dec 2013!!

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Regular Contributor
Posts: 209
Registered: ‎01-31-2012

Re: VA guidelines changed?

I think it is BofA thing, I am building very close to you and my DTI is 42% and no one mentioned that to me.

Starting Score: EQ: 532, EX: 569, TU: 621 (All lender pull 10/15/11)
Current Score: EQ: 660,lender pull 4/13, EX: 671 lender pull 4/13, TU: 691 lender pull (4/13)
Goal Score: 700

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Super Contributor
Posts: 6,187
Registered: ‎07-03-2007

Re: VA guidelines changed?

VA guidelines didn't change.....


Call another lender who doesnt have this guideline added to the VA guidelines.


All lenders have 'lender guideline overlays'  <= this means that they just add to VAs guidelines



* While I try to visit the forum often, please feel free to contact me directly with a link to your post if I fail to answer a follow up question.

* Lending across the entire 'Great State of Texas' since 2004
New Contributor
Posts: 51
Registered: ‎04-04-2009

Re: VA guidelines changed?

If you are not a member then join Navy Federal Credit Union. They are the best.

Established Member
Posts: 27
Registered: ‎01-01-2013

Re: VA guidelines changed?

I agree BOA is the one saying 31 percent but VA limit is still I think 41 percent though. 48 percent DTI is very high.

Old Fako score 550 in 2008ish
Current Fico(1/1/2013) EQ 717
Goal:750 100k
Open Loan Balances: 34k Auto 13.3k Auto, 5.3k Personal loan both through Navy FCU, 182k Mortgage 3.375%
The Wallet: NFCU 14k Signature Visa, USAA 10k MasterCard, Penfed 10k Cap1 500
Posts: 98
Registered: ‎08-09-2007

Re: VA guidelines changed?

What makes NFCU better than any other lender? Thanks!!

Valued Contributor
Posts: 3,303
Registered: ‎06-09-2010

Re: VA guidelines changed?

Missy_Bell wrote:

What makes NFCU better than any other lender? Thanks!!

Its just a matter of preference. Some prefer one place over another, just as some prefer brokers over LO's.

Since many of the members on this forum including myself are military or ex military, and most members coming out of rebuilding stages have better experiences with credit unions, NFCU is a great place to obtain many financial needs.


But once again it is still an opinion, and a matter of preference.


For myself I prefer to deal locally when I buy, purchase, or do any type of business. For example, while many may choose to purchase a Big Screen TV from Amazon to save a few dollars, I prefer to buy locally at Best Buy or where ever as long as locally. But this is only my preference.

Good Luck
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