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05 Dec 08 VA Home Mortgage Underwriting

VA Underwriting Standards

VA home loans involve a veteran’s benefit. Therefore, VA approved lenders are encouraged to make VA loans to all qualified veterans who apply.

VA’s underwriting standards are intended to provide guidelines for lenders’ underwriters as well as VA’s mortgage underwriters. Underwriting decisions must be based on sound application of the underwriting standards, and underwriters are expected to use good judgment and flexibility in applying the guidelines set forth in the following pages.


Basic Requirements

By law, VA may only guarantee a home loan when it is possible to determine that the veteran:

· Borrower must be satisfactory credit risk, and

· has present and anticipated income that bares a proper relation to the contemplated terms of repayment.

It provides guidance on how to treat income, debts and obligations, credit history, and so on, and how to present and analyze these items on the VA home loan analysis form. It does not deal with every possible circumstance that will arise; therefore, underwriters must apply reasonable judgment and flexibility in administering this important veteran’s benefit.

Read the complete published article> VA Home Loan Underwriting.

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