Home Buying in 94587>Question Details

Faisal Imran, Home Buyer in San Francisco County,...

I get VA disability payment of 560 a month, can I take out a VA home loan for $70,000? I am making 25 percent downpayment on the original home price.

Asked by Faisal Imran, San Francisco County, CA Wed Feb 1, 2012

I have no other concrete income, i.e. no other income to show the banks.

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3
Hi Faisal, good advice below. If you want to contact me I have some good people to refer you to who do loans. Like stated below best thing id to be pre-approved by a local lender before you start looking that way you know what price range you can look at.....Dawn
Web Reference: http://DawnRivera4Homes.com
1 vote Thank Flag Link Mon Feb 6, 2012
That depends on your debt to income ratio. From what I see your debt to income ratio will be tight so you would need to complete an application and any other income would need to be considered.
0 votes Thank Flag Link Wed Feb 1, 2012
The only one who will know the answer is a local and trusted loan officer. They can prequailify you at no cost and let you know if you qquailify for a VA loan and what price range you can afford. Anyone else may just be guessing withiout seeing your credit and financials. Stay away from internet lenders and meet with someone local.
Web Reference: http://www.ScottSellsNH.com
0 votes Thank Flag Link Wed Feb 1, 2012
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