The residual income minimums reflect how housing costs and other expenses vary based on family size and where in the country you're buying. (veteransunited.com)
This requirement factors into your eligibility when applying for a home loan because it aids in assessing the probability that you will be able to pay back the loan amount.The Department of Veteran Affairs residual income minimum requirement is generally attributed as large factor in why VA mortgages default at lower rates than all other major lending options. (vahomeloancenters.org)
The fact is a family can live a great life, including owning their own home, in Southwestern Ontario, earning as little as $ 45,000 per year or double income minimum wage jobs. (remonline.com)