VA – GI Bill Income to Qualify: I have a veteran client who is in the reserves and receiving GI bill income. Can we use this on a VA loan?
Answer: Unfortunately, VA does not allow GI Bill benefits to be used as effective income for qualifying. (See the guideline excerpt below.) Reference: VA Lender’s Handbook Chapter 4, Sec 2 r. Other Types of Income, continued Do not include temporary income items such as VA educational allowances (including the Post 9/11 GI Bill benefit) […]