Servicemembers and military veterans continue to take advantage of their VA home loan benefits with access to a 100 percent LTV, zero down payment loan.
However, with the COVID-19 pandemic, VA underwriters have tackled new challenges in underwriting VA loans. The COVID-19 pandemic, social distancing and the economic shutdown differentiates members of the military from civilians and new guidance from the VA Department changes various aspects of VA underwriting for servicemembers?
Does COVID-19 factor into the income for servicemembers and veterans as it might do for civilians? How does COVID-19 have an impact on deployment, tours of duty, access to communication with bill collectors and financial institutions, and some of the more typical potential setbacks due to personal injury or separation.
For these reasons, and more, underwriting VA loans requires unique skills now, in the current COVID-19 environment, and in the future.