We were approved for a VA loan in May and our house is finished so after submitting updated bank statements and paystubs and getting the appraisal back, our file is now with the underwriter again for "final approval". So naturally I'm sick with stress. My husband and I are both paid hourly so our pay is different every single paycheck and I have no idea what the loan processor has our income as. However, based on a worst case scenario I've calculated our front e d DTI as 27% and our back end DTI to be 44%. However, our residual income is approxinately $2,600 and our required DTI is $1,003 for a family of 4 in the south.
Will this be ok for the VA?
