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VA debt-to-income & residual income calculator
Sample calculator: a ballpark estimate. Your exact numbers are verified once your full application is complete.
Uses VA’s residual income table for loans of $80,000 or more and VA’s $0.14 per square foot estimate for maintenance and utilities. Count only debts with more than 10 payments left, plus minimum card payments. Estimate only; an underwriter makes the final decision.
For illustration only. Results are estimates based on the numbers you enter and general assumptions, and may not reflect your situation. This is not a Loan Estimate, pre-approval, rate quote or commitment to lend. Any rate shown is an example, not a current rate or an offer. Your actual eligibility, loan amount, rate, payment and costs depend on your credit, income, property, appraisal and underwriting, and can change without notice. Not all applicants qualify. CrossCountry Mortgage, LLC NMLS #3029. Equal Housing Opportunity. Full disclaimer.
Why residual income matters more
VA is the only major loan program that checks how much money you’ll actually have left each month for living costs. It’s a big reason VA loans have such a low default rate, and it’s why Shirley’s team qualifies VA borrowers on residual income first.
Related
Affordability calculator
How much home can I afford?
Open →Mortgage payment calculator
Your full monthly VA payment
Open →Credit readiness check calculator
Your timeline and plan
Open →DTI & residual income questions
What is VA residual income?
The money left each month after taxes, your new housing payment, estimated maintenance and utilities, debts and child care. VA sets a minimum based on your region and household size, and it is the main reason VA loans have such a low default rate.
What debt-to-income ratio do I need for a VA loan?
There’s no set maximum. Shirley’s team qualifies VA borrowers on residual income first, and many are approved with higher ratios when their residual income is strong. VA treats residual income at least 20% above the minimum as a strong compensating factor.
Which debts count in my debt-to-income ratio?
Installment debts with more than 10 payments left, minimum credit card payments, student loans, child support and alimony, and other mortgages. Utilities, phone bills and insurance premiums are not counted as debts.
Is there a minimum credit score for a VA loan?
VA does not set one, and Shirley’s VA purchase and refinance loans have no minimum credit score. VA construction loans start at a 620 minimum, and VA renovation loans require a 600. Not ready yet? Shirley’s team offers a free credit plan.
