Question Details

Randall, Renter in Somerset, KY

I have a equifax credit score of 612 as of today. I am wanting buy a house with the VA home loan, what are the chances I get approved?

Asked by Randall, Somerset, KY Thu Jan 19, 2012

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Randall as Ron stated below, too many unknowns to give you a concrete answer. However, if your income can support the new mortgage debt, a 612 score should not be the reason you are not approved. Va loans are really the only No-Money down deals available. No down-payment is required by you, and the seller can pay for all your settlement costs.

Best to get pre-approved first so you know exactly what you qualify for now not later. Rates are at an all-time low so my advice is to buy now if you are able not later.

Best of luck to you,

Rob Hughes-Long and Foster-RE INC.
0 votes Thank Flag Link Thu Jan 19, 2012
The VA does not work the Loan, the Lenders do:
Different lenders have different criteria; some look at your Debt to Income Ratio.
You need to look at more than one Lender.
I couldn't guess what your chances are; not enough information, (don't give us any personal info over any website; share it with a Lender, face to face)
If you do not already have your Certificate, go into your local VA office and they will help you; a lot.

And, thanks for serving.

Good luck and may God bless
0 votes Thank Flag Link Thu Jan 19, 2012
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