The minimum credit score for a VA mortgage is typically 640+. In the mid 500's, there is really no mortgage option for that range with any loan program.
You probably do need to start paying off your outstanding collection accounts. Many creditors are now reporting the account as delinquent each month the debt is outstanding. I see old collection accounts on reports all of the time now where the debt shows a late payment in the last few months.
Rodney Mason, NMLS #151088
Sr Loan Officer
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
Apply Online at http://www.rodneymason.com
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