Home Buying in Houston>Question Details

geraldmakey, Home Buyer in Charlotte, NC

Can I buy a home in houston, tx with a 615 credit score using my VA loan?

Asked by geraldmakey, Charlotte, NC Sat Jul 19, 2014

Help the community by answering this question:


I work with an experienced lender who can qualify you.
0 votes Thank Flag Link Fri Aug 1, 2014
Yes. If you want me to get you done in 30 days, email me at 281.332.3070 for further details.
0 votes Thank Flag Link Sat Jul 26, 2014
Ok another question is that since there are 3 scores,i really dont know which score lenders are going to pull. I have my student loans on deferment for about another year and a half. I have only had 1 late payment back in january due to some bs. I have been working with a credit repair company to get some of the debts i payed off of my report that was promised by the creditors. I really dont want to allow lenders to pull my credit and lower my already damaged scores just to hear no. What should i do??
0 votes Thank Flag Link Wed Jul 23, 2014
We Lenders use the same Model for credit scoring so you will get consistent credit scores from different lenders. But please don't let a bunch a Loan Officers run your credit! Here is some bullet points. When selecting a LO to work with, you want to make sure they are experienced in VA Loans. Why? Simple! There are some nuances with the VA loan that are unique and separate from other loan programs i.e FHA, VA or Conventional. With a score below 620, you will need to find a Lender who can offer you Manual Underwriting since the VA AUS (automated underwriting system) will not approve your file online. Know this, not all Lenders offer this. Next you want to make sure that your Lender is LAPP Approved. Many LOs don't even know what this is, but this alone can make or break your deal as the VA UW has the discretion to bump a low VA Appraisal if they think it was not in line with supporting comps. Lastly, we use the middle score to determine your rate. Hope this helps.
Flag Wed Jul 23, 2014
You can still call and discuss your situation with a lender. Check your own credit and tell them your scores to see where you stand. You can make a formal loan application later, when you're ready to buy.
Flag Wed Jul 23, 2014
Yes, you can. Minimum score 600. 0 dollars downpayment. High VA fees though.
Talk to a lender.
If you need assistance searching for a home in a particular area feel free to contact me.
0 votes Thank Flag Link Sun Jul 20, 2014
Looks like you just made the cut-off! The VA really helps with a credit score when it comes to buying a house. Make sure you fight to get your full money's worth. Good luck!

Jenn | http://www.caroljones.com
Flag Mon Jul 21, 2014
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