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Brenda Hajicek

Branch Manager

Cell: 763-754-7774
bhajicek@edgehomefinance.com

NMLS Numbers

Personal: 212562
Corporate: 891464
Branch: 1203865

Blog

VA Qualification for More Money

January 25th, 2016

Are you a Veteran who needs to qualify for a larger mortgage?

This could be you….


I had a realtor ask for my help. She had been showing a veteran homes for 3 months in the $118,000 price range This was based on the preapproval obtained from a local lender. The problem was nothing worked for him in that price range. He was single and paying $1200 a month for rent. The big difference is what he felt he could afford and what he was qualified for with the local lender. 

He received $2200 per month in disability income. He had excellent credit. 

With us we were able to approve him for $220,000 on a single family home. Now he didn't buy a $220,000 home but he did buy a $185,000 home. The thing is—not all lenders qualify veterans the same--especially on VA Home Loans--so a second opinion can make a real difference for a veteran.

The difference is we do NOT  always have to use a maximum back ratio on VA loans.  We can use a more liberal approach because the VA allows it but is not often used by other lenders. 

Here is a quick chart for single disabled veteran with no debt and approximately what they qualify for under this program.

$2200 monthly income = $220,000
$2300 monthly income = $249,000
$2400 monthly income = $270,000

 

 

Thanks for taking the time to read my 60 second newsletter.

I WILL BE WORKING THIS WEEKEND AND COMPLETING SAME DAY APPROVALS IF YOU NEED ONE. PLEASE FEEL FREE TO TEXT OR CALL ME IF YOU HAVE ANY QUESTIONS about buyers qualifications or property qualifications.

 

Sincerely, 

 

Brenda Hajicek -- Branch Manager 

Edge Home Finance--9220 Bass Lake Road #380, New Hope MN 55428

www.BrendaHajicek.com

Direct Phone Line/ 24 hours: 763-754-7774

NMLS 212562