Home Buying in 32548>Question Details

Isabelle Kel…, Home Buyer in Fort Walton Beach, FL

I am seeing if it is too soon to get pre-qualified for a VA Loan. I am debt free, even though I have about 10 credit cards all of which have 0 balance

Asked by Isabelle Kelley, Fort Walton Beach, FL Thu Jul 25, 2013

I am a service-connected disabled Vet and get 40% comp from VA & 20% Army. I also have been employed fulltime since March 2013. Will a lender even look at my demographics. I have two outstanding loans. One is a student loan which is deferred, and one which is a car loan. I pay in a timely manner, and have had bad issues in the past, but not in the last 3 years. Never defaulted on car payments. I've never had a mortgage in the US. Any thoughts?

Help the community by answering this question:


Isabelle, there are many things that go into qualifying for a mortgage. It's never too early to speak with a bank--best thing in this area is to work with a local lender. If there is a problem with your qualifying, there is a local bank that can assist you in improving your credit score so you can qualify--this usually takes around 6 months.

I would recommend that you not put too much personal information about yourself out here, however, as you don't know who is reading about you.

I would be happy to point you in the direction of some lenders that I think can assist you best to fulfill your needs.

Give me a call or drop me a line.

Myke Triebold
1 vote Thank Flag Link Thu Jul 25, 2013
Best thing to do is just call a Mortgage Lender. I like working with local lenders as they tend to be able to get through underwriting quicker. Give LeeAnne at Beach Community Mortgage a call (850) 315-4100. Then I can help you find a house. :-).
Nicole Blatt (I'm also a vet)
Coastal Realty Services
1 vote Thank Flag Link Thu Jul 25, 2013
Not at all. There are plenty of lenders who can guide you thru the process.
0 votes Thank Flag Link Sun Jul 28, 2013
CFS Mortgage, http://www.cfsflex.com, has a flexible loan program. They allow a mortgage after a foreclosure, short sale, or chapter 7 bankruptcy. There is only a six month waiting period. This is perfect for individuals looking to become homeowners again.
0 votes Thank Flag Link Sat Jul 27, 2013
I agree with Myke and Nicole about using a local lender and it is never too early. Even if you don't qualify now, a local lender will tell you what to do to look more appealing to lenders.

When you are ready to starting shopping be sure to interview the Realtors you are considering working with. I would love for you to interview me. See the link for thing to ask.

Lyn Woods
KLW Properties LLC
(850) 240-7133
0 votes Thank Flag Link Thu Jul 25, 2013
If your credit score qualifies you shouldn't have any problem now.
0 votes Thank Flag Link Thu Jul 25, 2013
Having 10 credit cards with a zero balance is not a healthy thing; with a zero balance, they are not giving you a good credit reference. The best situation is to have a small balance, way under the card's limit, and pay it off every month.

Your first stop should be the local VA office; they can fix you up with your Certificate of Eligibility and talk to you about a loan. They have added a Funding Fee, (bad news), but you are exempt (due to disability),

I just hooked a guy up who is transferring to Lemoore, with the Navy Federal Credit Union, and he is really happy. NFCU serves all 4 services, even the Army, :>)

The VA loan is No-Down, No PMI.

Good luck and may God bless
and thanks for serving!
0 votes Thank Flag Link Thu Jul 25, 2013
Thanks...the cards never have outstanding big balances but I do pay monthly bills with them, then pay them off...one of which is an American Express which I spend and pay off around $1500 a month. I already have Certificate of Eligibility.
Flag Thu Jul 25, 2013
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