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glutz
163 Posts |
 Posted - 05/14/2008 : 09:15:07 AM
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| Hello All- I am being conditioned on a VA loan for a commute statement. I imagine they are wanting a LOE for how long their commute is each day? Anyone know? thank you |
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nowbroker
1386 Posts |
Posted - 05/14/2008 : 10:08:06 AM
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| Would be required if their job is quite a distance from the primary residence. LOE on reason and willingness to commute, and depending on underwriter, may want an explaination on commuting costs, which they may use as debt. |
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ChangingTymes
125 Posts |
Posted - 05/14/2008 : 10:34:45 AM
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Just did one of these last month, Veteran moved 45 miles away from his job, BUT, since he can now get to work via Interstate Hwy, his drive time actually decreased by 30 mins.
He did a letter (and included the fact that by moving to a bedroom community, taxes were reduced, crime rate is lower, and schools are better)
I then googled his new comute route and included it with his letter. Cleared the condition in an hour.
Hope this helps!!! |
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