VA Residual Income Calculator

VA Residual Income Calculator

Residual income is the amount of net income remaining (after deduction of debts and obligations and monthly shelter expenses) to cover family living expenses.
Monthly household income ($)*
Total monthly paycheck deductions*
Monthly child support payments
Monthly alimony payments
Monthly childcare costs
Est. square footage of the new home?*
Loan Amount ($)*
Estimated interest rate on your loan.*
Loan Duration (Years)*
Principal and Interest Only ($)
Estimated monthly property taxes.*
Estimated monthly homeowners insurance.*
Homeowners Association Dues each month
Estimated Principal, interest, taxes, insurance and HOA
Your Residual Income
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- VA Residual Income Charts by Geographic Regions
  
  VA Residual Income Needed Chart for Loan Amounts of $79,999 and Below
  
  For families over 5, add $75 for each additional family member up to seven. If your Debt-to-income ratio is above 41% the VA requires that your residual income is 20% higher than the listed chart. The residual income requirement may be reduced by 5% if the applicant or spouse is an active-duty or retired service person and there is clear indication that they will continue to receive the benefits resulting from the use of military-based facilities located near the property.
  
  VA Residual Income Needed Chart for Loan Amounts of $80,000 and Above
  
  For families over 5, add $80 for each additional family member up to seven. If your Debt-to-income ratio is above 41% the VA requires that your residual income is 20% higher than the listed chart. The residual income requirement may be reduced by 5% if the applicant or spouse is an active-duty or retired service person and there is clear indication that they will continue to receive the benefits resulting from the use of military-based facilities located near the property.
  
  Disclaimer
  
  Meeting the above criteria does not constitute a loan approval or commitment to lend. Individual loan approval and eligibility will vary. Please consult with a licensed Loan Officer for further guidance.
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