Financing in 62025>Question Details

Britbrit86, Home Buyer in 62025

Lower than 620 score VA Home Loan

Asked by Britbrit86, 62025 Sun Nov 15, 2009

What lenders are willing to work with a married active duty military couple for a VA loan when one spouse has less than a 620 average and the other spouse has around 700? The active duty member is the less than 620.

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I tell my clients that are having difficulty getting approved to go to The Lenders Network. They go down to 580 for FHA and VA loans in all 50 states

Good luck!
2 votes Thank Flag Link Thu Jun 13, 2013
Brit,

We have the ability to do a VA loan under a 620 credit score.
Also we can take a look at your credit and find ways to improve the lower score.
Please feel free to contact me.
I look forward to hearing from you.

Steve Smither
Senior Loan Originator
Ardain Mortgage Corp.
ssmither@ardain.com
847-942-5151 Cell
847-963-1000 Office
1 vote Thank Flag Link Mon Nov 16, 2009
Technically VA does not have a minimum credit score. However, your lender may. Some lenders are going to what they call In House Guidelines or overlays which are different from VA's. Although your spouse's 700 credit score will help, the credit score relied on will be the Lower of your two middle scores. The easiest way to remove all doubt is to contact a lender in your area and ask them to run your data through their AUS (automated approval system). You'll need to do this anyway to obtain a pre-approval letter necessary when presenting a seller with your offer. Hope this helps.
1 vote Thank Flag Link Mon Nov 16, 2009
Hi, Brittbrit86: John from Houston had a great answer. If you would like a list of good, local lenders in Edwardsville, just let me know. They'll do everything they can to help determine what your situation is and see if they can find the right loan product for you.
0 votes Thank Flag Link Mon Nov 16, 2009
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