![]() Down payment requirements: There is no down payment requirement for VA loans as long as the sales price is at or below the home’s appraised value.In addition to those requirements, the VA has residual income guidelines regarding how much money a borrower must have left over after all debts and living expenses are considered. Lenders must also verify a minimum of two years employment. Income requirements: Your income must be stable, reliable and expected to continue in the foreseeable future-enough to pay back your loan.The general rule of thumb should be to keep your home costs at no more than 25% to 36% of your take-home pay. ![]() ![]() There isn’t a maximum DTI for a VA loan either, although anything above 41% may require additional explanation to get approved.
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