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However, lenders can and do set their own underwriting requirements, and many want to see a credit score for VA loans of 620 or higher. Debt-to-income (DTI) ratio for VA loans
The VA loan process also involves getting your new home appraised, going through mortgage underwriting and closing on the loan. Eligible veterans, active-duty personnel and surviving spouses ...
For 2024, the limit in most counties is $766,550. In more expensive areas, that limit can go up to $1,149,825. Lastly, you can only use a VA loan with a primary residence; investment properties ...
June 11, 2024 at 2:30 PM. ... VA construction loan requirements. ... In general, a regular construction loan has more rigorous underwriting requirements, such as stricter credit score and DTI ...
January 16, 2024 at 1:23 PM. Key takeaways. A VA certificate of eligibility (COE) is evidence that you meet the requirements for a VA loan. Having a COE does not guarantee loan approval.
“The same underwriting guidelines apply to retirees and seniors as does to everyone else,” says Michael Becker, branch manager and loan originator at Sierra Pacific Mortgage in Lutherville ...
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