Financing in Indiana>Question Details

Rj, Home Buyer in 92210

Which lenders do VA loans without a minimum FICO?

Asked by Rj, 92210 Sun May 31, 2009

How can I find out -- without going through a mortgage broker -- which lenders will do a VA loan without requiring (officially or unofficially) a specific minimum credit score?

Help the community by answering this question:


You can get an FHA loan with under a 600 middle score with some lending institutions but not many. I would recommend finding a broker or service to help you locate a reputable lender that can approve your loan at a decent rate. I have client's who have got approved and received a good rate at The Lenders Network with FHA and VA home loans. If anyone can find you a loan they can!
7 votes Thank Flag Link Thu Aug 1, 2013
Thanks for the tip Jessica! The Lenders Network was extremely helpful!!!
Flag Sun May 4, 2014
Thanks Jessica.
Flag Thu Aug 1, 2013
Bad credit VA home loans are often available to men and women of the armed forces. VA home loans are made through private lenders and are then guaranteed by the Department of Veterans Affairs. This allows private lenders to extend the loans to less qualified persons while maintaining a low interest rate.

If you need more detailed documentation on VA Loan Requirements -
4 votes Thank Flag Link Wed Apr 29, 2015
I'm sorry... have you not heard the news?

There's been a tiny bit of a crunch in the mortgage industry, especially for those people with low FICO scores.

What I hear you asking is, "Who'll loan money to a person with a room temperature credit score?"

The answer is NOBODY, except private, hard-money lenders who'll charge huge up-front fees and interest rates above 18%.

If that's your gig, there are plenty of people out there who'll sell you a place on contract and take the place back when you can't make the payments.

Your first priority is getting your FICO score up.

Rent a cheap place. Live on pasta and water. Pay your bills on time. Save some cash.

Once you're above 600, then come back and ask for a good mortgage lender referral.

Good luck!
3 votes Thank Flag Link Sun May 31, 2009
You just basically told a Veteran to screw off when they served their country & risked their life for you to have yours & your freedom! As the Wife of a Disabled Veteran (& whom are as well in the same situation credit wise) YOU INFURIATE ME!!!! You have no idea what it is like to have to watch what you do, say, act, or even look around your husband because you never know when he will be set off! Then to make matters worse, not be able to have a steady, permanent home to call our own due to our credit! It is shocking how many people disregard our vets. Joe Schmo can walk in off the street with a great credit score the same time a Disabled Vet with a poor credit score can & that Veteran basically gets the bird and told F you. It is a shame. THEY spent a lot of their life out of their country, losing their bros/ sis in arms (or even own blood), losing their spouse / kids, ect, & this is their Thank you? WAKE UP AMERICA!!! OUR VETS DESERVE BETTER! THEY DESERVE A HOME REGARDLESS OF CREDIT!
Flag Tue May 19, 2015
Bank of the West does VA Home Loans without a minimum Fico, just FYI since this guy wants to be rude
Flag Tue Apr 7, 2015
Glad I'm not asking for help because people in America are living on pasta and water since our jobs got sent to India and our mortgage companies and brokers sold us out years go to make a buck. This was also when an FICO of 520 was workable, but since those over inflated property values and the other evil "deeds" done by the mortgage industry even 620 and 640 doesn't make it. Being honest and not "powdering butts" is just fine people are used that, but be helpful too because not everyone can afford to shop at Macy's when some of us Americans have a little over Dollar General money.
Flag Sun Apr 27, 2014
Do VA Loans Have Credit Score Minimums?

First of all, let’s understand the VA’s role in the VA loan process. The Department of Veterans Affairs oversees the program and guarantees a portion of each loan in case of default. But the VA does not issue loans, and the agency does not enforce credit score minimums. Both of those duties are handled by an individual VA lender.

Most VA lenders do use credit score benchmarks. Applicants with scores below a lender’s benchmark usually can’t be approved for VA financing. That minimum will vary from lender to lender, but most VA-approved lenders, including Veterans United Home Loans, are looking for a credit score of at least 620.

For More Click Here :
2 votes Thank Flag Link Wed May 13, 2015
Our bank offers VA loans down to a 530 Credit score! This requires a 10% down payemnt. If you have a 580 credit score, you can do 100% financing.

We can also give you tips on how to get to a 580 if you are close!

Our bank has been open since 1905 and lends in all 50 states, contact me through my profile if you have questions!
1 vote Thank Flag Link Thu Nov 7, 2013
does your company still do this?
Flag Thu May 21, 2015
does your bank still offer these type of owns with said credit scores?
Flag Tue Nov 18, 2014
good morning may I get the name of the bank you represent ms Deibler. Thank you!
Flag Mon May 5, 2014
Do a search on "mortgage banker" on the internet and that will cut out the "broker" part. Also a lot of sites like are lead referral systems, so you can get some banks through there also.

Just pick up the phone and call your local banks, big and small. That's the easiest way.
1 vote Thank Flag Link Sat Oct 9, 2010

Yes I am an agent. And a Broker. And a business owner. 100% referral.

My clients EXPECT me to tell them the truth, not powder their butts, pat them on the head and tell them everything is going to be just fine.
1 vote Thank Flag Link Mon Jun 1, 2009
Oh come on, RJ... lighten up a bit, will ya?!?

I found your question quite humorous and (apparently ineffectively) attempted to inject some fun into my response. I see you took it as inconsiderate and unprofessional.

Would you have preferred to get a response that's less than honest but makes you feel good?

If you're looking for someone to blow smoke up your rear and tell you that everything is just peachy...that your friend will sail through underwriting with a 470 FICO and 3 straight years of slow/no pays, that's not very professional either. Nor is it ethical, in my opinion.

While I am very empathetic to your friend's situation, it doesn't substantively change the truth contained in my first answer.

Elderly or young, healthy or sick, disabled or able-bodied, VA loan or conventional, veteran or not... with bad credit history and a low FICO score, there's not a bank out there that'll touch the deal unless he's got a SUBSTANTIAL downpayment. No way. No how.

Let's paint the picture again, shall we?

We have an elderly, disabled person with a multi-year history of illness that's affected his ability to pay his bills on time.

Would you loan money to someone with that history? It's not personal, RJ. It's business. To a bank, your friend is not much more than a collection of income, debt, length of credit, amount of credit, and credit score.

No amount of feeling sorry for a person will change that. I wish it could, but it won't.
1 vote Thank Flag Link Sun May 31, 2009
VA mortgage benefits that only come with a VA mortgage:

Easier qualification standards
Less strict credit and income standards
No down payment required
Bad Credit Score VA loans Down to 550!
0 votes Thank Flag Link Wed May 6, 2015
We specializes in good and bad credit VA mortgage loans even no credit score Florida VA loans
0 votes Thank Flag Link Sat Apr 18, 2015…
The VA does not have a minimum credit score requirement. The VA simply requires that Florida mortgage applicants represent a satisfactory credit risk. But ultimately VA Florida mortgage lenders issue VA loans with a minimum 580 credit score.
0 votes Thank Flag Link Thu Apr 9, 2015
i have a va loan i would like to buy a new home my credit score is 500 i have medical bills in collection will i be able to get a home loan
0 votes Thank Flag Link Mon Nov 19, 2012
Hello RJ,

How has his credit history looked in the past year? Does he have proof of rent payment for 12 months? Will these medical conditions be subsiding or would the doctor say it could happen again? Does he have at least a 500 mid credit score? If the letters of explanation match up to medical circumstance and we have documentable proof, this loan is VERY doable under our VA guidelines. I work for one of the nation's largest bankers and this is very possible. We go down to 531 credit scores on FHA purchase loans and 500 on FHA refinances.

To Joe: I'll start taking 100% of those referrals that you have misknowingly sent away. It seems like the banking industry has gotten to you... I feel your pain.

My name is Jake Johnson and my email is
0 votes Thank Flag Link Wed Jun 17, 2009
Joe S. Are you really an agent? Why in the world would you want to post something so demeaning?

Rj, without specifics on the credit situation, it's impossible for any of us to give you any useful advice. Renting may be the right choice but we don't know that availability of rentals that meet your family members needs. Have him try Wells Fargo or some other institution to see where he is at. Good luck.
0 votes Thank Flag Link Mon Jun 1, 2009
Dear Joe --

Thank you for such a considerate, eloquent, and professional response.

To others wishing to be helpful, I am asking this question on behalf of the family of an elderly disabled veteran who has experienced financial problems over the past few years due to his medical condition who would like to apply with a lender directly.

Thank you!
0 votes Thank Flag Link Sun May 31, 2009
Great response RJ, everyone deserves another chance and not everyone is able to live on pasta and water and get their FICO score to 620or 640.
Flag Sun Apr 27, 2014
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