Financing in Seattle>Question Details

USAF_Vet, Home Buyer in Seattle, WA

Is it possible to get either a VA loan or regular mortgage with a 608 credit score and open collections?

Asked by USAF_Vet, Seattle, WA Fri May 18, 2012

Help the community by answering this question:


I love to help Vets buy a home & you can certainly do that if you get yourself in a position to do so. The first thing to do is to take a look at your credit & see how we can fix it. I am a local lender & real estate broker & would love to discuss your options with you if you want to take a few minutes & call me at 206-841-9976.

Take care, Jirius Isaac
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0 votes Thank Flag Link Sat May 19, 2012
Not in my shop, but even if you can find a lender that will do it, why would you want to risk everything? If you can’t pay the collections now how what will you do if they get aggressive AFTER you are deeper in debt? Those things have a way of getting nasty when you can least afford it. Buying a home might be a signal to the collection company that you have blood in your turnips. I hope my comments keep you out of harm’s way, good luck,

Jim Simms
NMLS # 6395
Financing Kentucky One Home at a Time
0 votes Thank Flag Link Fri May 18, 2012
You need to seek advice from a lender experienced with VA. Any collection action is a problem, but not all collections are equal. If the collections involves a government-backed loan, such as a student loan, then you have a real problem. If the collection is due to temporary job loss or a medial expense, then that may be something that can be overcome. I believe the minimum credit score for a VA loan is 620, but you should check with a local lender to verify that.

Good luck!
0 votes Thank Flag Link Fri May 18, 2012
Good Morning,
I am a realtor and not a lender. However, I will make a recommendation for a super lender, who has helped other clients of mine, with issues or potential issues. He can advise you on what you need to do to clean up your credit.. I also like to send people to Its not a free sight, but it does help you look at your credit and see what issues you have and how to help you clean them up. Collections are tricky sometimes, and it may depend what they're for and how long they have been on your credit report. Call Mark Williams at 206-399-9636.. He will help you. Tell him Jeanmarie, sent you.
0 votes Thank Flag Link Fri May 18, 2012
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