*Update* So we applied for a va home loan got pre-qualified found a home signed a contract. Paid home inspection and earnest money sent all docs in. File went to underwriter and was denied do to residual income. When I called to inquire and was told it was due to certain things on the credit report. Example I was told i pay 562 for student loans when i asked how you get that number I did not receive a straight answer. So I say well the app says 132 is what I pay for my loans, why is that? I was told the loan originator did it wrong. Wow so that is just like the reviews i read so after telling me to get home inspected (my cost) pay earnest money and set up home insurance I was denied. Can't believe this is how they are trained. You figure that all the bad reviews maybe its just them but I had the exact experience as others on here. I bet hopes of getting reimbursed for my home inspection. I will be moving on from usaa to another bank. The reviews most give are true.
I'm sorry you had a bad experience but it's worth persevering. Let us know how you're going and who else you're applying with.
Just to update we switched to a broker recommended by our realotor who said he could get the deal done we got approved with conditions and we sent conditions in today. Keeping fingers crossed
I just purchased a home in September 2015. I was originally going to go with Veterans United. Yes they asked for a but load of paperwork and then in the end told me that they could not do my home loan since they were not counting my wifes pay becuz she had not been employed FULL TIME for 2 years. Just had a child and was getting back to work. Found a local mortgage company that said they had no problem funding our loan as they actually asked what the situation was with wife not having 2 years employment. I would stick with USAA if you are looking to buy. If you read on this board, there are a few strings of posts discussing dissatisified buyers with Veterans United.
Residule income is the key, Your DTI can be pretty much anything, I have seen 62% on the back end. but as long as you have enough residule income you are fine.
There is a residule income worksheet that VA puts out, let me know if you need it.
Whats the difference between USAA bank and the broker? Im loooking to do a VA loan as well, but Im just not clear on the different people involved.