Timeline on getting VA Benefits Award Letter

Discussion in 'Case Timelines' started by turion1973, Feb 19, 2013.

  1. turion1973

    turion1973 PEB Forum Veteran

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    I just got my Unfit Memo thru the IDES, last week so I figure I have about 3 to 5 months give or take a few weeks to get all my priorities together. Lately I have been beating myself up on trying to decide to buy a house or just rent one. Since I have learned that you have to show the mortgage lenders the VA benefits award letter for proof of income since they really don't like to take the RAS from MYPAY to show our retiremtent pay given I get 30% or higher from the DOD which I'm 99% sure I am. I have spoke with my PEBLO and he said the VA will send my Benefits letter in 30 days or less. But I spoke with the VA DES Representive and she told me it really takes about 90 days to 120 to be more honest since they will have to re-rate my Proposed ratings once I produce my DD214 to them prior to sending out my VA Benefits award letter that to recieve it in 30 days or less is imposible.

    Please any info would help
     
  2. katy2160

    katy2160 PEB Forum Veteran

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    Thats the rumor, 60 days and counting for me.
     
  3. jlgale

    jlgale PEB Forum Regular Member

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    24 days and counting here.
     
  4. Sicotic

    Sicotic PEB Forum Veteran

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    38 days in counting. I was that you couldn't get. Va loan unless you have. Full time job when you get out. Also has to be within your mos or job in military. Plus have. Credit of 620 or better ith and 40% debt to income.
     
  5. Jason Perry

    Jason Perry Benevolent Leader Site Founder Staff Member PEB Forum Veteran

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    There are credit criteria for the banks who issue the loan that must be met. But, there is no requirement that you have to have a job within "your mos or job" in the military. Just think about how that requirement would be met by an infantryman, or a weapons officer on a submarine.
     
  6. katy2160

    katy2160 PEB Forum Veteran

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    Strange response lol.
     
  7. SGT B

    SGT B PEB Forum Regular Member

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    58 days from date of separation for me. My case was closed on Feb 6 so when I log onto ebenefits it's saying a letter should have been mailed already, I called yesterday to request another one be sent out since I haven't received the other.
     
  8. Sicotic

    Sicotic PEB Forum Veteran

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    I'm.saying after you ets that is what i was told by va.
     
  9. ceilingfan

    ceilingfan PEB Forum Veteran

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    I ran into this exact situation when I was applying for VA home loan. According to USAA underwriters (and their interpretation of VA regulations), I did need to have a job, which correlated with my military MOS (infantry). However, as with anything, there are work-arounds and waivers. The only thing that saved me was the fact that I was working in the field I was before joining the Army and that I have a degree in. I was eventually approved and everything went through. This was last July.

    The VA doesn't worry so much about credit score as they do 'debt to income ratio'.
     
  10. Sicotic

    Sicotic PEB Forum Veteran

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    Banks care about credit scores
     
  11. ceilingfan

    ceilingfan PEB Forum Veteran

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    Yes, agreed. Credit score and debt to income ratio relatively go hand in hand. :) I think there is VA regulation regarding debt to income but not for credit score...that's all I'm trying to say.
     

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