Compensating Factors |
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 Excellent credit history Conservative use of consumer credit Minimal consumer debt Long-term employment Significant liquid assets Sizable down payment The existence of equity in refinancing loans Little or no increase in shelter expense High residual income Low debt-to-income ratio Tax credits for child care Tax benefits of home ownership
Note: Compensating factors CANNOT be used to offset unsatisfactory credit.
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VA Lender Guide
The Complete Lenders Training Guide
Eligibility
Loan Types and Requirements
Interest Rate Reduction Refinance Loans
Cash Out/Other refinance Loans
Underwriting
Maintenance and Utility Guidelines
Automated Underwriting Systems
Closing Packages
Appendix
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