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Va loan

My husband was fully employed for many years at different employers and then was laid off during covid and he collected unemployment compensation for 6 months before going back to the same line of work in a full time job. We just sold our home we owned for 9 years and are looking to buy a new home using a va loan. Will the 6 months of unemployment collecting unemployment compensation be a problem. Both of our credit scores are 800+ , low debt and over $100k in bank. by Opusd792 from , California. Oct 6th 2021 Reply


Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,843 contributions

The good news is that the answer is that gap will not be a problem on a VA loan, or a standard conventional loan. As long as he is back to work on an hourly or salary job, and has received 30-days of paystubs, we will be able to use the new job income. Self-employed, commission, etc. is very different. I lend in MN WI IA ND SD. Find me at JoeMetzler.com - Cambria Mortgage, NMLS 274132 (651) 552-3681

Oct 7th 2021
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