Moving in Indianapolis>Question Details

Van, Other/Just Looking in Indiana

I have no fico score, due to inactive credit in the past 5 years. ive paid off 1 home, 2 cars, but would

Asked by Van, Indiana Mon Jun 8, 2009

like to use my VA Loan now. can i get a VA loan with no fico score showing on my credit report.

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The short answer is YES! The absence of a credit score does not disqualify you from obtaining a VA home loan. There are some strings attached as you will have to prove you are credit worthy via alternative credit references but if you have a prior mortgage history, sufficient income, and pay your utility bills, cell phone, rent, and insurance on time you would most likely qualify. I'd love to help guide you. Feel free to contact me.
0 votes Thank Flag Link Thu Jun 11, 2009
Your first step is to make a mortgage analysis application. I work with a mortgage company that makes loans others just refuse. We are not affiliated in any manner whatsoever and ave never dealt with sub-prime loans. They will tell you if they can secure a loan for you now or what steps you should really take to reach your goal. Contact me for the contact name and phone number.
0 votes Thank Flag Link Tue Jun 9, 2009
Hi Van,

Since you have no credit. You will want to establish credit. This is best done by a local credit union in your area that offers 'secured' credit cards. You will prepaire $500.00 on a secured credit card. Use that card for gas and groceries. Continue to prepare and use the card. After about 60 days, you will then want to ask for a credit limit increase. At that time you should be able to obtain a credit rating. For more information, you can look at my blogs here on this website about establishing credit. Here is my website for another secured credit card, however local is also good.

http://www.hannahfliegel.com
0 votes Thank Flag Link Mon Jun 8, 2009
Van I can't answer your question because I'm not a mortgage professional, but I'd be happy to give you the names and numbers of some lenders you could speak with that would be better equipped to answer your question.
0 votes Thank Flag Link Mon Jun 8, 2009
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