Va Income Verification Guidelines

That is if the applicant s income qualifies as effective income.

Va income verification guidelines. Chapter 3 the va loan and guaranty. Income verification iv title 38 united states code 5317 authorizes the department of veterans affairs va to verify veterans self reported gross household income information by matching with records maintained by the social security administration ssa and internal revenue service irs. Please review the documents below to learn more about va national income limits for medical benefits and prescriptions. Applicable va pension income thresholds are used to determine eligibility for cost free medications and or beneficiary travel benefits.

Chapter 2 veterans eligibility and entitlement. Information is accurate as of the date of publishing and is subject to change without notice. Lenders should continue to use good judgment and flexibility when verifying stable and reliable income. Lenders should make every effort to satisfy va s longstanding requirements concerning verification of employment voe as outlined in the va pamphlet 26 7 chapter 4 credit underwriting.

Paystub s covering the most recent 30 day period with year to date. Chapter 4 credit underwriting new. Va s health eligibility center hec verifies earned. Va form 26 8497 request for verification of employment or any format which furnishes the same information as va form 26 8497 plus a pay s tub if the employer normally provides one to the applicant.

Acceptable verification consists of. Determine the income limit for your residential area based on your number of dependents income limits table. Chapter 1 the lender approval guidelines. Chapter 5 how to process va loans.

Verification with va standard documentation acceptable verification consists of va form 26 8497 request for verification of employment voe or any format which furnishes the same information as va form 26 8497 plus. For non military employees the va also allows alternative documentation for employment verification. For certain veterans the va national income threshold based on previous year s gross household income and or net worth is used to determine eligibility for priority group 5 assignment and cost free va health care. According to the va alternative documentation may be submitted in place of a voe if the lender concludes that the applicant s income is stable reliable and anticipated to continue during the foreseeable future.

If the employer does not indicate the probability of continued employment on.