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VA Underwriting Guidelines

VA Underwriting Guidelines 2025

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The document outlines the underwriting guidelines for VA loans as established by Michigan Mutual. It includes details on broker approval, required forms, loan requirements, eligibility criteria for veterans and their spouses, collateral requirements, credit and income documentation, and various policies regarding fees and charges. The guidelines emphasize the importance of adhering to VA standards while ensuring fair treatment in the underwriting process. Additionally, it covers specific conditions under which loans may be approved or denied based on individual circumstances.

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Click ‘Get Form’ to open the VA Underwriting Guidelines in our platform's editor.
Begin by reviewing the 'Program Description' section. This provides essential context about the VA loan process and eligibility requirements.
Navigate to the 'Required Forms' section. Here, you will find specific forms like the Loan Analysis Worksheet (VA 26-6393) that need to be filled out. Use our platform’s tools to input your data directly into these forms.
Proceed to complete the 'Eligibility Requirements' section. Ensure you have all necessary documentation ready, such as DD Form 214 for veterans, which can be uploaded directly into our editor.
Review the 'Loan Requirements' and 'Credit Requirements' sections carefully. Fill in any relevant fields regarding income, assets, and liabilities using our platform’s features for easy editing and signing.
Once all sections are completed, utilize our platform's sharing options to distribute the finalized document for signatures or further review.

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Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Do VA loans use DU or LP?

At a minimum, the property should be in livable condition with functioning electrical and plumbing systems. If the property doesnt pass inspection, you wont be able to buy it using this loan type. You also must use the property as your primary residence.

What would cause an underwriter to deny a VA loan?

Can a VA Loan Be Denied in Underwriting? The VA doesnt set a minimum credit score, but a low score, recent late payments, or collections can impact your approval. Lenders need to verify that your income is steady and sufficient to cover your new mortgage plus other monthly expenses.

How often do underwriters deny VA loans?

All lenders work off either Fannie Maes automated underwriting system, DU, or Freddie Macs version, LP. These systems are programmed uniformly across all lenders. They analyze the entire picturecredit, income, and assetsand render a simple Approve or Refer response.

What is the underwriting system for the VA loan?

VA lenders generally rely on an Automated Underwriting System, or AUS, to determine a buyers preapproval status. An AUS is a computer program that instantly evaluates a buyers eligibility based on a variety of factors. Not every qualified borrower will obtain AUS approval.

Are VA underwriters strict?

While the VA does not have a strict maximum DTI, lenders typically look for a DTI of 41% or lower. In manual underwriting, a higher DTI (sometimes up to 50% or even higher) might be accepted, especially if the Veteran demonstrates strong compensating factors, such as high residual income or docHub liquid assets.

What happens during the underwriting process for a VA loan?

About 15% of VA loan applications get denied, so if yours isnt approved, youre not alone. If youre denied during the automated underwriting stage, you may be able to seek approval through manual underwriting.

VA Underwriting Guidelines 2025

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