All Forum Posts by: Jason Cirioni

Hello everyone. I wasn't sure which section would work best but here is my situation. My wife is looking to move back to the states from overseas and we were looking to do a second tier VA home loan. We have plenty of entitlement left and the home's in mind are over the 144,001 limit. My question is will my wife meet the occupancy requirement for the house taking into consideration I have over a year remaining at our current location. Not to mention I have no sure way to know where I will be stationed after this tour is up?

Thanks for your inputs Elizabeth.  I'm guessing I'll have to do as much if not more mortgage broker shopping as house shopping.  It seems so much easier when its going to be your primary residence and or its your only property.  

The thing that gets about DTI is that I actually make money living off base with my housing and utility allowance. However If I lived in base housing, I wouldn't make any extra money, but again I don't pay anything. Bottom line is I could qualify for a larger mortgage If I lived in base housing but would be losing money every month by doing so. Makes absolutely zero sense to me.

My situation is I'm trying to to buy an investment property in Florida that will be come our primary residence in about 3 years once I retire from the service. I'm located overseas now and live off base. I own a house in New Mexico which has been rented out for the last 2 yrs. I have a couple questions related to DTI. First is does my current rent get factored into the DTI since I'm overseas and I get an allowance to offset that cost? Second question is does my first mortgage payment get factored into my DTI? My mortgage payment is $586 and I get $1000 for rent. I've talked to a broker who said my rent would essentially wash my mortgage payment off my DTI. However when I use the online calculations and include my mortgage and the rental income its still negatively affects me. Any advise or info would be greatly appreciated.