VA – Use of Future Retirement Income: If a VA borrower is closing in February and they will receive a raise in retirement income in July, can we use the July Income?

Answer: VA doesn’t discuss this scenario exactly in their guidelines.  A typical prudent underwriting approach would be to allow the July retirement income amount if the file is documented regarding the retirement increase and the veteran has reserves equivalent to at least 6 months of the income difference. Of course, your underwriter will make the […]

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