• 888-208-9797
  • 4003 Plainfield Naperville Rd., Naperville, IL 60564

Denver, Indiana VA Home Qualifications
Qualifying for a VA Home Purchase in Denver, IN

Once you’ve determined that you’re eligible to apply for a Denver, Indiana VA loan, there are some things you need to do to make sure that you will qualify for the loan.

One of the key factors in securing a good deal on a home purchase is having a high credit score. But it’s a little different with VA loans in Denver, IN—you can often get a good loan even with a low credit score and a short credit history. The lack of an established credit history does not mean that you cannot get approved for a loan. A satisfactory payment history for utilities or rent can show that you are responsible with your monthly bills and can substitute for an established credit history.

If you’re thinking of applying for a Denver VA loan in the near future, it’s a wise idea to pull your credit reports and check for any inaccuracies. If you find any, those inaccuracies should be disputed and taken care of before you start the loan process.

You can even apply for a Denver VA loan just two years after Chapter 7 bankruptcy has been discharged. A full explanation of the bankruptcy will be required along with the re-establishment of good credit. In this situation it is an absolute must to show that you have a stable job and steady income.

The situation is a bit different with Chapter 13 bankruptcy. You can still be paying on Chapter 13 bankruptcy and receive a Denver, IN VA loan—but you must have been making on-time payments for at least one year. Once again, a full explanation of the bankruptcy, a stable job, and the re-establishment of good credit will be required.

There is not usually an income requirement for those who apply for VA loans in Denver, IN. But borrowers are expected to have reliable income to show that they will be able to make their new mortgage payment.

The VA also requires that borrowers have a certain amount of income left over each month after all of their major expenses are paid. This residual income requirement keeps defaults low by ensuring that applicants can meet financial obligations and have a cushion in case of an emergency.

Your debt-to-income ratio is the amount of your monthly gross income that goes toward debt. The VA’s acceptable debt-to-income ratio is 41%. Smart Mortgage can help you figure out what your current debt-to-income ratio is. It’s a complicated process because there are exceptions and variables that can affect your final ratio. If your debt-to-income ratio is higher than the VA’s threshold, you can lower it by paying off debt before applying for your refinance loan. Smart Mortgage can discuss your options with you so that you will be eligible for a refinance as soon as possible.

Anyone who receives a VA loan in Denver, IN will have to have filled out a Certificate of Eligibility (COE). This is what verifies to the lender that you are indeed eligible for a VA loan. You do not have to have the COE before you start the VA loan process.

The kind of evidence you need to have to establish your eligibility depends on several factors. It shouldn’t be too difficult to get the required information and fill out the form.

We will help you with the COE process, if desired. For those with sufficient data in the VA’s system, lenders can establish and issue a COE in just a few minutes. If you prefer, you have several other options. You can fill out and submit the form online, or you can download it, print it, and mail it to the VA. A side note: spouses must apply by mailing in this form.

Get the Best VA Mortgage Rate

I’m Confident and Ready to Start My Online Application.

If you’re looking for a personal VA mortgage experience near Denver, IN you’ve come to the right place.  Get the best of both worlds with a designated VA professional plus technology.  What’s even better are the lower rates, no upfront fees and fast closings. 

Rates so low the nations largest VA lenders panic when consumers find out about our Denver VA Mortgage Rates. Connect with your personal VA Loan Expert by calling 888-208-9797.  

Get my VA Rate!

    Once this form is completed, a local VA mortgage consultant will be reaching out to you. You will receive an instant email with the credentials of your VA consultant with contact information and a photo. We look forward to assisting you with your home buying or refinancing needs.

    5 Star Rankings Since 1997
    Call the VA Question and Pre-Approval Hotline

    1-888-767-0554

    Get Qualified for a VA Loan Near Denver, Indiana

    A VA approved lender; Not endorsed or sponsored by the Dept. of Veterans Affairs or any government agency.

    Denver (/ˈdɛnvər/), officially the City and County of Denver, is the capital and most populous city of the U.S. State of Colorado. Denver is located in the South Platte River Valley on the western edge of the High Plains just east of the Front Range of the Rocky Mountains. With an estimated population of 727,211 in 2019, Denver is the 19th-most populous city in the United States, the fifth-most populous state capital, and the most populous city located in the Mountain states.[17] The metropolitan area surrounding Denver represents a majority of the population and economic activity in the Front Range region, the area where an estimated 85% of Colorado’s population lives. The Denver downtown district is immediately east of the confluence of Cherry Creek and the South Platte River, approximately 12 mi (19 km) east of the foothills of the Rocky Mountains. Denver is named after James W. Denver, a governor of the Kansas Territory. It is nicknamed the Mile High City because its official elevation is exactly one mile (5280 feet or 1609.344 meters) above sea level.[18] The 105th meridian west of Greenwich, the longitudinal reference for the Mountain Time Zone, passes directly through Denver Union Station.