Income plays a role too. If your household income falls below the VA's threshold for your location,you might qualify for reduced-cost or free care. Keep in mind, income info is required during the enrollment process unless you have enhanced eligibility-like recent combat service, exposure ...
Residual income is the monthly household income which remains after a homeowner has made monthly payments to on all of his credit accounts. This includes the mortgage and escrows, of course, as well as whatever student loans, car payments, credit card bills and whatever other obligations exist. ...
Debt totals do not usually include insurance, utility or general household expenditures. But also notice that not all forms of income are considered either. GI Bill income for housing is not counted, and some forms of income—such as commissions and self-employment earnings—may require proof of...
The applicant must prepare to complete the application by gathering information about their monthly household income, monthly senior care expenses, countable net worth, and health as well as the Veteran’s military service: Financial documents:The program’s application review process became more complex...
There is also a max household income limits with most cutoff starting at 109,500 for a family of four, and up to $136,000 for a family of five or more. The income limits change every spring, so make sure and check to see what updated income limits are. ...
VA loans can be made anywhere, unlike the USDA restrictions, and there is no income household limit. Most VA lenders I work with will want a 580 credit score even though on paper, VA says they don't have a minimum credit score.