tdiu Trying To Buy A House, Proof Of Continuance?

[souldeliverer]

Hey all. I wasn't sure where to post this question, so I thought I'd post it here. I am trying to buy a real cheap house with my VA loan. Credit is great. Income is sufficient. Debt ratio is fine. USAA is requesting "proof of continuance for at least 36 months'!!!!!

I was 100% schedular for a few years, and have been 90% +TDIU for a few years, but am not yet P&T. They want this same proof for my SSDI as well.

Anyone know what I should do? We are staying in a friends' house while they are out of the country, but it is cramped. We need s house. In FL it is FAR cheaper to buy than rent.

Thank you for your help!

[Ethan'sGrandma]

I think that will depend on the mortgage company you are working with. My son recently purchased a home and they wanted the same surety, but waivered the form because there was no real way to obtain that information from VA. VA was not going to give any such letter stating that he would not be reduced, or similar circumstances, so they decided to waiver the document they wanted him to obtain. Can you speak with the mortgage company and see if you can get around that if not able to obtain the wanted info. from VA or SSA? My son had an FHA loan, but the requirement was from the mortgage company. Good luck with obtaining your loan!!

[Philip Rogers]

Good luck w/that. Don't forget the cost of the homeowners insurance, which the bank will require, in Florida, that I understand is outrageous. The VA should be able to give you a statement of past yrs income, showing past continuance. There is no guarantee of future income as any one of us could die today. jmo

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[rentalguy1]

I would IRIS or call the VARO and explain what you need to them. The Nashville VARO was very accomodating when we purchased our house two years ago, but I was already P&T. You could also call the VA Home Loan folks in Atlanta. They were very helpful when we went through the process as well. Good luck. It's a demanding proecess, but it's worth it.

[souldeliverer]

Thanks for the suggestions! I will start with the bank, asking for a waiver, as that would be the easiest. I will move forward from there. Thank you!

[broncovet]

You can print a letter from ebenfits, I think it s AB8. This should suffice. If you are working, your employer wont be guarnteeing you wont be fired, so this letter should suffice.

A VA loan could save you money, have you looked into this?

[john999]

I sure would take the VA loan if I was looking to buy. I used it once, but refinanced at a much lower rate on a 15 year mortgage and paid it off back in 2001. I think even if you have used the VA loan program once you can use it again?