What disqualifies you from getting a va loan?

Dishonorable discharge veteran status requires that service members be discharged or released from the military under conditions that are not dishonorable. A veteran with dishonorable leave will not be eligible to participate in the VA Loan Guarantee program. The VA prefers a debt-to-income ratio, or DTI, of no more than 41%. But borrowers with higher DTI ratios can be approved if they have sufficient residual income, another factor lenders consider when reviewing mortgage applications.

Residual income is the money left to cover basic living expenses, such as food and clothing, after paying debts, housing, and other obligations. The most common reason applications for VA home loans are denied is due to errors in the application itself. Lenders cannot issue loans unless they are sure that their personal and financial information is correct. Before submitting your request, take the time to review each statement you make and the numbers you enter.

If everything seems right, go ahead and send it. If you identify errors, correct them immediately. This way, the lender can review your application and make a decision without waiting for you to change it.