Phoenix VA gets 6th Director in last 2.5 years.

I recently wrote a blog on my other site that discusses the newly appointed VA director of the Phoenix VA hospital.  RimaAnn Nelson was the former director of the St. Louis VA facility that was mired in scandal after scandal.  It is a travesty that she’s been allowed to keep her job much less run a facility that cares for over 85,000 veterans.

va-home-loan-semper-find-my-homeIt is a travesty that she’s been allowed to keep her job much less run a facility that cares for over 85,000 veterans.  Veterans here in Phoenix, and the surrounding areas, such as Scottsdale, Peoria, Mesa, Buckeye, Glendale and pretty much the entire Phoenix Metropolitan area, rely on the Phoneix VA for a variety of reasons.

At Semper Find My Home, we work with veterans at the VA facility here in Phoenix, by helping them with all their real estate needs and by educating them about their benefits and how to maximize their usage.  The VA loan is the best loan by far out there and every vet needs to utilize it for all their real estate transactions.

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How Can a Veteran Improve Their Chances of Getting a VA Loan?

I’m often asked by friends of mine who are veterans to help them out during the process of purchasing their home. I actually just helped a veteran here in Phoenix, Arizona with a  VA Jumbo loan and we both learned something new during his lending process.

Remember fellow veterans, your VA home loan depends a lot on your Debt To Income ratio, more commonly known as DTI, and just like regular loans they determine whether or not you qualify and for how much. Take a look heveterans-day-ceremonyre at how it’s determined.

Dodd/Frank laws that came into effect in 2014 dramatically changed the lending process and landscape for the entire industry.  They now require lenders to ensure borrowers the “ability to repay” a mortgage.  DTI ratios and other criteria have made qualifying for a loan a lot more stringent and difficult. Gone are the days of NINJA loans…..remember those?  No Income No Job/Assets?

The acceptable Debt To Income ratio for a VA loan is 41% and credit plays a huge factor. I’ve seen personally a veteran who was approved for a loan with a DTI ratio in the 60% range, however, the underwriter has to explain the reason behind approving the loan.  Not to say it can’t be done.

So veterans, just because we’re entitled to a VA loan doesn’t mean we’ll be approved for one. Work with your Realtor® who probably has excellent relationships with lenders.  At Semper Find My Home we work with the Belmont Group, Matt Belmont happens to be a fellow Marine Veteran  who works closely with all my clients to ensure we maximize your experience and utilize your VA benefits to their fullest, he’s awesome!

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Welcome to Semper Find Home Phoenix’s Best Veteran Real Estate Company

Semper Find My Home is finally live and reaching out to veterans, first responders and the entire Phoenix Real Estate Community.  It’s been a while getting here, due to us being so busy,  but you know what they say, “better late than never.”  Stay tuned for a ton of information we will be posting and dissmenating regarding using the VA loan, which happens to be the best product ever created, and other really useful bits of real estate information.semper-find-my-home-logo

You can follow Alex Popovic on Twitter or Instagram