VA ELIGIBILITY INFO Certificate of Eligibility:
Obtain VA Form 26 1880, Request for a Certificate of Eligibility for VA Home Loan Benefits

CREDIT INFORMATION

• Latest credit card statements, indicating minimum payments and account numbers
• Name, address, and phone number of your landlord, or 12 months of cancelled rent checks
• If applicable: copy of complete bankruptcy and discharge papers
• If applicable: if you co-signed for a mortgage, car, credit card, etc.,
  

There are four basic steps in the VA home loan application process. 

Step 1: Select a Lender – A lender can help you review your financial situation and credit history and determine the loan amount you qualify for. Choose a lending institution that is VA approved and can handle home loans.

Step 2:

That depends on his/her credit and DTI.

If you can qualify on your own, usually it is better to keep it that way. If you add a spouse with a lower credit score, that could make your interest rate increase.

If you add a spouse with a higher DTI that you, that will make it a more difficult approval process.

Your Vetted VA Loan Office will be able to work over all the facts and math and show you all the options available

The 3 Cs of Mortgage Underwriting are:

• Character
• Capacity
• Collateral

If you have all these, you will be approved. If you are not approved, your loan officer sucks.

Character:

• Is your credit score high enough? Usually 580 is good enough. Higher is better for 2 reasons: lower rate and less stipulations from the underwriter.
• Do you have sufficient credit depth? Generally, you need all on-time payments in last 12 months.

Capacity:

• Do you make enough money to cover all your debts, including