The VA and a veterans lender may have different VA loan qualifying guidelines. The http://www.directvaloans.com VA loan FAQ video series addresses the commonly asked question, Why do the VA and my lender have different guidelines for VA loans? VA Loan Guaranty Program guidelines are established by the Veterans Benefits Administration under the U.S. Department of Veterans Affairs. However, The VA does not make the actual loans. VA-approved lenders such as banks and mortgage companies put up money for the loans. These lenders often have private investors who also set lending guidelines that can differ from those of the VA. Which means lenders must often follow both sets of guidelines to determine the terms of each VA mortgage. For the complete video series and to find more answers to your most commonly asked VA loan questions at http://www.directvaloans.com/VA-Loan-Questions/Default.aspx.
