Common Reasons VA Loans Get Denied and What You Can Do

Can you be denied a VA home loan? While it’s less likely than with other types of home loans, it is possible. Being denied a VA home loan is hardly the end, and like homeownership itself, the loan approval process can take some maneuvering.

At Thank You Heroes, we help active military, veterans, and other pillars of society in Southern California cut through the home loan process in the most advantageous way. Here, we’ll discuss the most common reasons a VA home loan is denied. Then, we’ll cover the services that have the best outcomes for those denied a VA home loan.

Common Reasons VA Loans are Denied

If you’ve recently gotten disappointing feedback from a mortgage lender, you’re likely wondering, “How can you be denied a VA home loan when you’re a qualified veteran or servicemember?” The answer depends on the VA Loan Certificate of Eligibility, meaning there can be a handful of reasons for a denied VA home loan, including but not limited to:

• Poor credit
• Significant changes in credit
• Income outside the qualification range
• High debt-to-income ratio
• Inconsistent employment history
• Other factors outside your control (e.g., a private mortgage lender choosing to reduce or end participation in the VA loan program)

The positive side is that there are just as many things you can do to not only requalify but possibly even secure a better loan term, interest rate, or VA rebate. As with most things, the best outcome depends on working with those whose interests are most firmly aligned with yours.

What Can You Do if Your Loan is Denied?

There are many things you can do to secure a new VA home loan and obtain the highest VA rebate. Even if you’ve received several application denials, nothing is stopping you from adjusting your affairs and applying again, perhaps elsewhere that’s much more yielding to your particular qualifications.

Because VA home loans follow a more straightforward process, applicants have the advantage of more time to spend on other important factors in getting the best loan for them. This makes it much easier for VA loan applicants to focus on getting the lowest possible interest rates and most advantageous terms, especially by working closely with a qualified Thank You Heroes loan specialist.

Also, you don’t have to use a particular VA loan once. A Thank You Heroes agent can help you take what you’ve already earned and leverage it to obtain the highest value from a new home. We also dramatically improve the outcome of home sales for our members. Together, we help veterans, service members, and their families get a roof over their heads they and their loved ones can be proud of for years to come.

At Thank You Heroes, we support our eligible members in a variety of ways:

• Up to 100% closing costs, fully covered
• A minimum of 10% cash-back commission goes back to you
• Guaranteed home sale, or we’ll buy the house
• Up to 20% of all Thank You Heroes commissions are donated to other heroes
• A safe place for servicemembers, veterans, first responders, teachers, healthcare workers, and clergy to receive home-buying and -selling support with integrity and faith in all dealings

Secure your VA Loan and Achieve Homeownership with Thank You Heroes

For those who’ve risked it all to protect us, we’re humbled to play this small role in your journey. Thank You Heroes is honored to provide home loan assistance for veterans and military personnel and help secure the safest, most affordable VA home loans in the communities they gave everything for.

Even though you can be denied a VA home loan, it has one of the lowest likelihoods of any type of loan. No matter what stage of the application process you’re on, we invite you to join our program and let Thank You Heroes guide you through your homeownership journey. Contact us with any questions about our zero-cost home buying and selling program for military personnel throughout Southern California and the surrounding area.

Image Credits: Alina Nikitaeva // Shutterstock