When qualifying for a VA Home Loan, veterans usually need to provide evidence of a steady income. A combination of income sources is usually accepted, including part-time jobs, full-time employment, second jobs, self-employment, rental income, active duty pay, and some government benefits. The lender will usually ask for documentation to verify the income.

Full-time Employment

A steady, full-time job is usually the most common source of income used when qualifying for a VA Home Loan. The lender will usually ask for a two-year work history with a stable income. If the veteran has recently changed jobs, the lender may ask for additional documentation, such as a job offer letter or contract.

Part-Time Jobs, Second Jobs, and Self-Employment

Part-time jobs, second jobs, and self-employment are also accepted as valid sources of income. The lender will usually ask for a two-year history of employment and income. This includes any part-time, second job, and self-employment. The lender will also ask for tax returns and other financial documents to verify the income.

Rental Income

Veterans can also use rental income to qualify for a VA Home Loan. The lender will usually ask for a two-year history of rental income and any related expenses. This includes any income from renting out a portion of the home or from other investment properties.

Active Duty Pay

Active-duty pay is eligible to be used as long as there's 12 months left on the enlistment or a letter is obtained stating the veteran will re-enlist. BAH and BAS is also available to be used as income.

Government Benefits

Government benefits can also be used to qualify for a VA Home Loan. These include Social Security, VA disability, and pension payments. The lender will usually ask for proof of the benefits and the income amount. If the income is non-taxable, like VA disability income, it can be increased by 25% (also called 'grossed up').

Give us a call us today at 949-243-7900 to determine your VA Loan eligibility and start you on the path to owning your own home.  We are proud to have helped thousands of veterans navigate the home buying process.