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Prof Of Income


bigoc

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I am wondering if anyone has any experience with applying for a loan and using VA disability pay as a source of income?

Either VA pay by itself or combined from work and VA Pay. I am not sure what type of information could be used to provide prof of this VA payment and amount. Other than a bank statement from my account I could not figure out what to use. I am looking into an auto loan. I do bank with USAA and might check with them to see what they have to say. I am rated 90% now and have a source of income from a job.

I understand the VA payment is not taxable but it does amaze me how there is not a yearly statement of any kind.

Also I am not sure where else to post this so if it is misplaced please advise.

Edited by bigoc
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You can always call the 800# and ask them to send you a letter of how much your disability payment is per month. It should be a simple letter and it will not tell your disabilities or your rating percentage.

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thanks and can you believe I spelled the title of this topic wrong in the title haha. I was thinking of calling for something like that I just was not sure if there was a standard process that anyone has used or any experience with what the reaction of the bank is when you try to explain the situation. I am in a very non military area.

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If you can get on ebenifits, they have a letter generator that produces a nice "letter" that has your monthly income from the VA. Although, it also will have your percent listed, if that is a concern. I does not say what disabilities you are rated for. It will work for income verification.

Hamslice

“There is no hook my friend. There's only what we do.”  Doc Holiday 

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Hamslice, my husband (now 100% S/C) has always used his Va income, his SSA, and an annuity check for income proof (Also they add my SSA with which I can buy a bag of peanuts). He has good credit and too many credit cards. Just my opinion, but lenders see disability payments as a reliable source of income. VARO printed his income letter in about 5 minutes in person. Hope this helps

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Hamslice, my husband (now 100% S/C) has always used his Va income, his SSA, and an annuity check for income proof (Also they add my SSA with which I can buy a bag of peanuts). He has good credit and too many credit cards. Just my opinion, but lenders see disability payments as a reliable source of income. VARO printed his income letter in about 5 minutes in person. Hope this helps

oops the question came from bigoc, not Ham!

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