bigoc Posted March 23, 2011 Share Posted March 23, 2011 (edited) 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 March 23, 2011 by bigoc Link to comment Share on other sites More sharing options...
Guest Posted March 23, 2011 Share Posted March 23, 2011 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. Link to comment Share on other sites More sharing options...
bigoc Posted March 23, 2011 Author Share Posted March 23, 2011 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. Link to comment Share on other sites More sharing options...
Carl the Engineer Posted March 23, 2011 Share Posted March 23, 2011 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 Link to comment Share on other sites More sharing options...
Omg-Sue Posted March 23, 2011 Share Posted March 23, 2011 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 Link to comment Share on other sites More sharing options...
Omg-Sue Posted March 23, 2011 Share Posted March 23, 2011 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! Link to comment Share on other sites More sharing options...
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