getting a va loan with 733 credit and high DTI?

The VA does not set the guidelines. Each lender has their own DTI limit. However, if you have "compensating factors", you may be able to exceed 50% DTI. Good credit is a compensating factor but the lender will evaluate your entire profile (subject to their guidelines). Most lenders will limit borrowers to 41% as that is their guideline standard. I have seen a DTI for a VA purchase as high as 72%. The borrower had great credit, assets and a stable job with good income.

Typically, most folks do not know how to properly calculate their own DTI.. For this reason, it's best you let a professional do the calculations.. Lenders look at GROSS income, not take home pay. They look at your MONTHLY DEBT, not monthly bills, and they look at MINIMUM payments for revolving debt, not what you actually pay, and they include your new housing payment, including all taxes, insurance, mortgage insurance, HOA fees, assessments, etc.. They also look at any court ordered debt/obligations such as alimony, child support, tax payments. etc.. As I said, it's best to let the pro's calculate this for you.. and most mortgage brokers would be happy to assess your particular scenario and let you know exactly what you qualify for.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

The only thing I would like to add is that we do not have limits on the DTI and are a direct lender. We funded over $750,000,000 in VA loans in 2013 and absolutely have the ability to help determine if a VA loan best meets your needs. We offer additional financing options as well and can walk you through the pro's and con's between all the options available for you. John A Soricelli Jr. www.ThinkJandJ.com

HI - I'm in Northern California with HomeStreet Bank. We can do DTIs over 50% on VA loans provided you have at least 3 compensating factors. Examples of these are: showing you have made a similar housing payment (such as rent) for 12-24 months; having a down payment of 10% or more; accumulated savings; excellent credit (which appears to be your situation); substantial cash reserves, meaning enough in the bank or retirement accounts to cover 3 months of mortgage payments; prior home ownership (with no lates); and long-term employment. You also should have a loan officer review your debt numbers to determine exactly what your debt to income is (or would be depending on what price home you'd like to buy.) My name is Marty Stern and you can reach me at 707-364-4115 or at marty.stern@homestreet.com

As others have said, it will depend on the specifics of your application. 50% is not a firm limit for a VA loan unless the lender has that as their internal policy, and as William pointed out most borrowers do not know how to accurately calculate their DTI. On the other hand, DTI is a factor and it you truly are at 50% before you purchase a home that could reduce the amount of a mortgage you can obtain. I can help: pdumouchel@primelending.com or 843-619-6025 http://pdumouchel.primelending.com **PrimeLending was #4 purchase mortgage lender in the US in 2012 and 2013 as determined by MarketTrac(c) for Jan-Dec 2012 & 2013