And finally, how high does your credit score have to be to use a VA?
Answers (2)
BEST ANSWER
I don't have to have any particular credit score to qualify a VA loan and no, there is no requirement to "pay" for the decreased score. A VA loan can be a bit more scrutinized on the credit qualification though so you will want to have a clear, concise explanation for any derogatory items that exist on the credit report, regardless of the score.
If you have any questions, you are welcome to contact me.
Luke Allison
Bank of America Home Loans
828-777-8828
luke.allison@bankofamerica.com
FIRST ANSWER
Hi Patti,
A 600 score will do, however you will "pay" for it in an increased rate.
All the best,
Ros
Roswell Moore, CMPS
Certified Mortgage Planner
(480) 422-5095 Direct
Web Reference: http://www.ezAZloan.com
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