Example \#3 Tom \& Tina have hopes of buying a larger home, as they have three children and just found out they're expecting a 4th. They have been employed with the same employers for a number of years and have a pretty good income. Tom has been in the military and qualifies for a VA loan. Tom makes $20.50. He works a 40 hour work week. Tina has a great job, making $33.15 per hour as a supervisor, working 40 hours per week. Calculate their monthly income: Tom Tina Total Here's a 1 They havi sut) Using the basic qualifying ratio for VA mortgages ( 41%), what is the amount of monthly payment that Tom \& Tina will qualify? 41% Maximum House Payment \$\$ If they sell their current home, how does that change the ratios?? 41% Maximum House Payment \$\$ Now we must consider RESIDUAL INCOME