I applied for a va mortgage in 2/2009 had a score of 626 and reserves of over 10K and income that would have put me in a good income ratio. I was denied because I paid only 510 per month and mortgage would have been 1616.00. At one point she said I did not have enough VA entitlement and denied me then VA told her about the second tier of entitlement which allows me to purchase a home up to 273K.The house was 245K. Then the final denial was the payment shock as described above. The kicker is she took 3 months to issue the final denial. Doesn't it seem reasonable that if read my application and looked at my credit report she would have known that from the beginning. She kept putting me through conditions such as more 3 credit references I gave her 4. she wanted my DTI to come down by 2K. I got 4K wiped out on student loans because I I am permanent and totally disabled and now I just had to apply and send the dox and they were gone with dox in a week. It seems she was trying to give me impossible conditions for most to disqualify me. Anyway I lost the home because my contract expired before I got financed. Is there anything I could do.:confused:

Typically VA loans are the easiest loans to qualify for. And because you are a disabled veteran you are exempt from being charged the VA funding fee. A payment shock is a consideration that underwriter has to make, however, it should not be the sole reason why your were declined financing. Most mortgage brokers are difficulty getting banks to finance their customers, that's why I suggest going directly to the bank. Most big lenders; wells fargo, chase, bank of america, have VA & FHA underwriting authority and can document a file with more pros than cons and approve a file even with extenuating circumstances. You have good credit and low DTI should have been enough to allow the underwriter to approve your file. I work for Wells Fargo and I would be happy to assist any veteran with their new home mortgage. I can be reached at [email protected] if I can be of any help to a fellow veteran, please contact me.