Do I Qualify for a VA Loan After Having 4 Jobs In 2022-2024?

[boundbygrace]

Hey everyone, so I am trying to see if I qualify for the VA loan under these conditions:

I have had 4 jobs since I got out of the military. I've currently been in this job for almost 9 months and will be moving into another position here soon (same job but different squadron). I make almost 60k now. My fiancé will also be contributing (he now makes 100k). He just moved into a new job recently but is doing the same type of work. He was at a previous company for 7 years before this one.

I have around a 760 credit score and his is slightly lower than mine. I'm paying off a car loan while he is paying off some credit cards and student loans.

Would I be able to qualify to use the loan? We are looking to buy a home under 400k.

 

[holywalk]

@boundbygrace Why would you not? Because you bounced around jobs? You say different squadron, so you've been AD military the whole time?

 

[boundbygrace]

@holywalk I asked because 3/4 jobs had nothing to do with my main career.

 

[boundbygrace]

@holywalk No, AD to civilian.

 

[booksandmusic]

@boundbygrace Lender here I see no problem. As long as you don’t have large gaps in employment. Hit me up if you have questions.

 

[boundbygrace]

@booksandmusic The largest gap was maybe a week. I've had parents (who are both military) and other veterans tell me I won't qualify and get a good loan if I want a house that's 400k. And I hear other mixed things, which is why I'm so lost

 

[booksandmusic]

@boundbygrace Hit me up in chat For specifics but I think you sound good to go. As long as your dti works

 

[nobillis]

@boundbygrace Thank you serving!

You typically need a 2 year history in the same industry but sometimes underwriting will take 1 depending on the reasons. The biggest thing is to get your bills in order and lower the monthly debt. You typically want to stay under 55% debt to income. How much you bring in monthly vs your monthly bills ( car payment, credit cards etc. Don't worry about electricity gas or phone bills)

Any questions ask away.

 

[boundbygrace]

@nobillis As far as debt goes, I'm okay. I have never been unemployed for more than a week or 2. But I've seen other people get a loans without having a job. I was in the military for 4 years as an IT. And this month will mark 9 months at another IT job. I'm transferring to another one soon.

 

[nobillis]

@boundbygrace Your work history shouldn't be an issue then

 

[becin]

@boundbygrace Qualifying for the VA Loan is tied to your military service. It has nothing to do with your career field or length of employment. Your employment history may affect your loan terms, but most servicemembers who were previously on AD are eligible for the VA loan soley from their time in the military.

 

[mercedesduran]

@boundbygrace Go on to the VA eBenefits website and check your eligibility.

 

[lfedora]

@boundbygrace That’s entirely up to your lender