My daughter was told by a lender that she and her husband qualified for a VA mortgage of $250k. After shopping for a home with a realtor and finding a home they fell in love with, the finance person now says she cannot include her husbands income due to his income will change in 5-months when he is through with school. At that time his part-time job will transition into full-time. A letter from the his company at work was provided to the potential lender stating his full-time offer as soon as school was over.He has only been out of the army for a year and a half after serving four and a half years. They wanted him to have been working full-time for at least a year and a half to two years.Will they need to wait another two years before his income can be considered as part of the mortgage borrowing?Should they try a different lender, and if so where should they look?Thank you, Deborah

Once he transitions to full time he should be able to procure financing.

They will not have to wait for 2 years. Since Illinois is an at will employment state, the specific amount of time he has to be employed full time will be determined by his employment agreement. If they would like to speak with a Certified Military Housing Specialist, have them contact me as I service the Chicago suburbs.

They will not have to wait for 2 years. Since Illinois is an at will employment state, the specific amount of time he has to be employed full time will be determined by his employment agreement. If they would like to speak with a Certified Military Housing Specialist, have them contact me as I service all of the Chicago suburbs. http://homeloanforVETERANS.com

If this is the discussion she had with her lender then she should absolutely find a new one. There are very specific job continuity rules with VA loans that may make it a loan that is not an option for them. Although this may eliminate VA as an option, there are other loan types that will not be as restrictive and their lender should have discussed these with them. They should talk to their REALTOR and get a referral to an experienced LOCAL LENDER that understands all the loan programs and can build a specific solution for your daughter and her husband.

I would need more details, but this sounds like a situation that can be worked out. Please make sure that you speak with an experienced lender who will lay out various options and intelligently discuss the pros and cons of each with you. Your pre-approval should reflect in writing that all financial documents have been reviewed. This will make for less stress and potential issues during the process as well as make it more likely for a seller to accept your offer on the home you want. I'm happy to help with the financing or just give you advice. If you need more information, or a competing rate quote call, email or use my live support button to discuss or get in touch with me. Web Address for live chat or quote is: http://www.loansfromrob.com/quote/ Email is robertlh66@verizon.net and direct phone is 240-752-7549. Good Luck -- Rob Hanson