Direct VA Loans

VA Home Loans Limits and Qualifying

Videos feature Tim Lewis, VA Loan Team Manager, NMLS #157603.

What are the income requirements for VA home loans?

Income qualifying for a VA home loan is a topic that gets asked about often. Like all loans, VA mortgages have certain qualifying requirements. These are established by the VA. The established debt-to-income threshold for VA loans is 41%. Typically, if a veteran's monthly debt obligation is 41% or less of his income each month, then a lender can consider a VA home loan. Of course, there are other factors to consider like credit score and residual income. Residual income is what's left over after subtracting all of a borrower's foreseeable expenses from his or her monthly income. Often times, if there is enough residual income, debt-to-income can be higher than 41% for some borrowers.

It can be a good idea to go through the pre-qualifying process with your loan officer. This will give you a gauge on your debt-to-income ratio and the amount you can qualify for.

If you would like to do so, you can get pre-qualified in very little time by a VA loan professional.

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