Here are 10 facts about Kentucky Mortgage VA Loans you might not have known.
- Kentucky Mortgage VA Loans do not have a maximum loan limit. The Veteran can qualify for up to $2-3 million they may need to put down payment in depending on the entitlement they have.
- VA manual underwriting is 0 x 30 in the last 12 month on revolving and installment credit. We can ignore credit over 12 months old.
- Kentucky Mortgage VA Loans DTI is up to whatever DU/LP will approve. On manual underwriting will do up to 50% with 120% residual income.
- Kentucky Mortgage VA Loans does not have an identity of interest guideline. VA allows non-arm’s length transactions.
- Kentucky Mortgage VA Loans does not have a flipping rule. If the value can be supported with an appraisal and there is no indication of inappropriate behavior ok to proceed.
- Seller can pay more than 4% concession/closing costs.
- Kentucky Veterans with entitlement that has been previously used can use their additional 25% to obtain 100% financing.
- VA disability can be grossed up 125% Kentucky Mortgage VA Loans
- VA allows no score with alt trades.
- Kentucky VA Mortgage Loans require 2 years out of bankruptcy for Chapter 7 and 1 year for Chapter 13 bankruptcy
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