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I'm looking for some info on VA second tier eligibility requirements. I have a current home in Kentucky I used my basic eligibility on, that home is a rental now. Work has moved me to Georgia and I'd like to purchase here. Reading I have done says I may be eligible for another VA backed loan using second tier eligibility. I'd like to discuss with an experienced VA Loan broker if possible.
I have good credit (over 730) and good income.
Beginning to home shop and going to go VA Loan. Non-Married Partner is Eligible Vet. Some unique circumstances though and hoping for some insight:
We are not married nor are our banking accounts tied
He's the eligible Vet, I am not
His income is under $75K/year
My Income is well over $75K/year
His credit is good, my credit is better
Based on income, credit, downpayment etc....Can we apply jointly and get approved to be on the same VA Home Loan? My income and credit will boost the numbers while his eligible VA Status gets us the VA Loan deal.
Not sure if VA Loan requires us to be married to both be considered on the loan while qualifying factors that would get us approved...are significant though we're not married.
Does VA Care about this? Or is it like any other loan....adding someone like a co-signor or second applicant?
My 350th Post!!
Final step for the DW for 2014. Approved for $13K on their 11.99% Diamond Preferred, HP on EQ.
Exp : 789
TU : 798
Eq : 806
Over the last fourteen day app spree, she's scored:
AMEX EDC - $9,400 to $28,200
NFCU Flagship - $10,000
NASA Visa - $13,000
BECU - $25,000
BOA - $8,200 > $16,400
USAA - $16,000
Citi - $13,000
For a total of $104,000 in new credit!
She did apply for a second NFCU card, that's still under review.
Off to the garden till next year for some CLI requests. (I know, a lot of GIF's, just celebratin' a little , ok, a lot! )
DW was just approved for NASA Visa Platinum Rewards, $13K, 9.9%
I'm trying to make sure she has a complete credit profile, she has no credit unions yet. Although, she was just accepted to Navy FCU (based on my membership). CC application there is "pending".
Her FICO scores:
Exp : 789
TU : 798
Eq : 806
The NASA HP has not shown up yet, but I'm guessing it will be Experian like mine was.
Just wondering if anyone has ever app'd with BofA and had it take the full 30 days that they say it may take. Just app'd with them on the 1st day of the app spree for DW (8/30) and they still say it is under review. Wondering if she should call and try talking to the UW dept, any suggestions?