VA Loan Qualifier  - Ohio 2007  
 
  Veteran Information    
  Borrowers Name :    
  Marital Status :      
  Number of Children :      
  Monthly Debts $ Lasting 6 Months + :    
  Local / City Income Tax % :    
             
  Income and Deductions    
  Borrower - Gross Annual Income :  $    
  Borrower - Non-Taxable Income :  $    
  Spouse - Gross Annual Income :  $    
  Spouse - Non-Taxable Income :  $    
  Federal Income Tax :  $    
  FICA :  $    
  Ohio Income Tax :  $    
  Local / City Income Tax :  $    
  Monthly Net Take Home Pay : $    
         
  Property & Loan Details    
  Mortgage Loan Amount :  $    
  Semi Annual Property Taxes :  $    
  Yearly Hazard Insurance :  $    
  Monthly Condo / PUD HOA :  $    
  Property Square Footage :  ft    
  Interest Rate :  %    
  Term in Years :  n    
       
  Monthly House Payment : $    
  TOTAL Shelter Expenses : $    
         
  2 Step Approval Evaluation    
  (1)  Monthly Balance Available :  $    
  (2)  VA Residual Requirement :  $    
  (3)  Excess Residual Dollars :  $    
  (4)  Excess Residual by Percentage :  %    
  (5)  Debt to Income RATIO  :  %    
           
  STEP 1 - The "Debt to Income Ratio" - LINE (5) must be "Equal To" or "Less Than" 41%    
  STEP 2 - The "Excess Residual by Percentage" on LINE (4) must ALWAYS be "ZERO" or a "POSITIVE" Percentage.    
  EXCEPTION - If the "Excess Residual by Percentage" on line (4) is 20% or Greater, The Loan can be Approved Exceeding 41% "Debt to Income RATIO"    
  EXPLANATION - The Veterans "Monthly Balance Available" on line (1) must Exceed or Equal the "VA Residual Requirement" on line (2). "Excess Residual Dollars" on line (3) Calculates that difference.