Financing in Martinsburg>Question Details

Anna, Home Buyer in 25413

How is it possible to qualify for a mortgage with one lender but not the other.....?

Asked by Anna, 25413 Sat May 2, 2009

Hi
i was wondering how it is possible to qualify for a mortgage with one lender but not the other, we just applied for a va loan but only got qualified at one lender out of four... ?( Our FICO is in the 500s)
And what does it mean to qualify with a lender ?
Anna

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1
Hi Anna,

Each lender can have their own underwriting guidelines. If you FICO's are in the 500's you loan will probably have to be manually underwritten and you will have to do an FHA loan.
0 votes Thank Flag Link Sat May 2, 2009
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