Old 07-31-2016, 04:09 AM
  #10  
Hacker15e
China Visa Applicant
 
Joined APC: Oct 2006
Position: Midfield downwind
Posts: 1,920
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I did exactly what you're talking about; bought a house on a VA loan while separating with my follow-on employment at a regional.

It was a bit of a pain to show the loan guy what my income was going to actually be. I sent them a copy of the contract for the regional I was going to be working at, which showed both the pay scale as well as monthly hourly pay guarantees, etc. I created a spreadsheet that showed what my minimum annual income was going to based on the contract, but the bank wasn't satisfied with it.

I eventually had to contact the regional itself, which had a contractor they employed to verify employment. That contractor was able to produce a document that said basically the same thing I had previously done, showing the minimum income that the contract guaranteed for the first year, second year, third year of employment. Since it was on company letterhead, I guess, the bank accepted it and I got the loan.

Of note: I closed on the house before I left active duty and it didn't make a difference in the process. The bank wanted documentation of continued service if I was going to claim my military income in obtaining the loan. This isn't their first rodeo.
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