Chris Birk, Director of Education at Veterans United Home Loans, breaks down the manual underwriting process.
One of the biggest benefits of the VA loan program is that veterans who’ve hit a rough financial patch can still qualify for a mortgage. But lenders will need to take a closer look to ensure you can handle the responsibility of a monthly mortgage payment. In these cases, you may hear a loan specialist say that your loan will need a “manual underwrite” or to be “manually underwritten.”
0:30 – Purpose of Manual Underwriting
1:39 – Manual Underwriting Requirements
2:28 – Verification of Rent
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