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Proof of Income, and application process

How long does it normally take for an application to go threw/ Is the VA GI Bill a proof of income. I am currently in the US Army and will be moving to SD to attend Mesa College. The Gi Bill will be paying me (Basic Housing allowance) monthly as long as i am attending school. I will not have a job right away but will have money saved up as well as my BAH. My question is will the Bah and my Gi Bill be enough proof of income.
  • July 20 2012 - Clairemont Mesa West
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Answers (5)

I suggest that you talk to loan officers at 2 local banks in the town you are moving to.  That is the way to receive a definitive answer.
  • July 20 2012
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Hi There,

Any lender who routinely closes VA loans can answer your questions, and I'm surprised no one answered. I'm an agent, and when I have a VA buyer, I use a lender who closes VA loans all the time, and in 30 days. The process isn't difficult, and like any other borrower, you need to prove you have enough income to qualify. A lender should be able to tell you if what you have is enough for what you need to buy, then I can help you find something in your price range. If you call or email me, I'll be happy to send you their contact information.

Warm Regards,

Cory La Scala, REALTOR
Independence Realty
  • July 23 2012
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Profile picture for Don Greenberg
Original Poster, are you talking about the application process for renting a home? Only reason I ask as it is categorized under rentals? If not, the two answers by Cory and Pat are excellent.
  • July 24 2012
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Profile picture for KatieLee5
for anyone whos still interested , veterans united does not include gi bill post 911 5e with dependents BAH stipend as income.
  • April 30 2014
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Hi, 

Sounds like you're asking about a rental application process. In which case, the landlord who is handling that specific property can guide you on which forms of income are accepted. You should be ok with your GI Bill and potentially a letter from your CO explaining how the BAH works. Offering to set up "electronic direct pay" will help as well.

Good luck
 
Jason
  • September 13 2014
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