How to get VA Loan after getting out of Active Duty

[SacmanOS2]

Back in Aug. 2014, my wife and I, tried to get an pre-approved loan and were denied due to not having assets and very little time in our jobs. I am currently deployed and we have $30K save up for a home to put down or for any closing costs. We both reviewed our debt which consists of having two lease vehicles. Another reason for our denial was after getting out of Active Duty I went straight into the Reserves and work a full time job Detailing Vehicles while attending college. They said my job history has no correlation, which I do not understand because my rate in the military is not for the civilian world, if that makes sense. My wife and I, we know what we can afford and it is a bit frustrating that USAA denied our approval. If there is anything that USAA can help us with, it will be highly appreciated.

[Briana Hartzell USAA]

Hi Sacman0S2,

First, thank you for your service. I also wish you a safe return from your deployment.

We would like to get a mortgage specialist in contact with you to review your situation and get further details on how we can assist you with a mortgage. If you could please email us here at socialmedia@usaa.com and include your member number, the details you provided above and the best way to reach you; someone will be in contact shortly.

Thank you.

[Chad Anthony]

I got denied as well. I just went to another lender and it was super easy. We are house shopping now. I wish we could have kept it at the same bank but I guess they think of us a risk percentage on some table and not people. We make over 100,000 a year so maybe we will just pay cash and USAA can lose the money made in interest. Also, I thought the VA loan was a guarantee? Whats the point in even using it?

[DSTEXAS]

Chad, apparently if you were denied you didn't meet the VA underwriting guidelines for a VA loan guarantee  While how much you make is but one factor, there are many more the underwriters have to use.

[Briana Hartzell USAA]

Hi Chad,

I am sorry to hear about the issues with securing a VA loan through USAA. We would like the opportunity to review what happened and get your feedback to improve our services. If you could please send us a message here with additional details we would truly appreciate it. Thank you.

[Nightraider]

SacmanOS2,

Dont give up. Go get another opinion from a local bank. Take all of your docs with you and sit down and talk to them about your situation. Local banks understand and will listen to your story and make a decision based on the facts. You will have better chances with a local bank than USAA which only looks at numbers and not your story of being a veteran. Keep trying and you will succeeed......I know because I did!

[SacmanOS2]

Thank you all! As we all know that when going into boot camp or hearing it from our leadership, USAA is the best way to go or NavyFed.. You would think they would understand our responsibility dealing with the transition. I have spoken with my wife about it and she mentioned the same thing about looking for local banks and/or CalVet. I hate the fact that I am paying rent, making someone else rich when I can pay a few hundred dollars more a month into something I will own. LOL. USAA did offer my wife a loan without my name, but a very little amount. We are trying to live in a good and safe neighborhood, where the home prices range from $250K-$300K on average. Sorry, but when I am away on a deployment, I want to be sure that my family will be safe and not being told by the helicopter's loud speaker to secure our doors and windows, like my sister's neighborhood. She paid $150K for her home and 2 yrs later she is still trying to sell the home. Learn from others, I guess.. Thanks to all for the comments! I highly appreciate it.