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Updated about 1 year ago,
VA Assumption Question
Hello everyone. Thanks in advance for reading and replying.
Currently buying a property through VA assumption with a second mortgage company to cover the cost above whats owed by the seller.
Underwriting for the assumption portion said they cannot consider rental income that doesn't have a documented (tax return) source. I have a property that only has 12 months and another with a 4 months old lease.
Does anyone know if this is a VA requirement or something the lender is using for their process?
Thanks!