VA Loan

Asked by Stickit2u, Wichita, KS Mon Nov 9, 2009

I was told my lender that I was unable to get my VA certificate of eligibility because I had one unpaid debt on my credit report. Is there a requirement time limit for a clean credit report to get my VA certificate of eligibility? I have paid it of within the last month and show no other past dues on my credit report. I was told I had to wait for 12 months to reapply for my VA certificate of eligibility.

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Coole Home’s answer
Coole Home, Agent, San Diego, CA
Tue Aug 20, 2013
The VA certificate has nothing to do with credit. However, if you have any late payments within 12 months before you apply for a VA loan, your loan will be denied. You can get a copy of your certificate of eligibility from VA Home Loan Centers.
Web Reference:  http://vahomeloancenters.org
0 votes
Michael Hayd…, , Wichita, KS
Wed Mar 10, 2010
VA Cert of Eligibility is also available for you online. You can request this and recieve it within a few days. In this case, you may want to check the status of your eligibility with the VA. For the derogatory credit, unless the unpaid debts were federal debts (such as student loans, tax liens, etc.) then this should not affect your VA eligibility as long as you met the credit score requirements for the lender.
0 votes
Home Buyer H…, , Tallahassee, FL
Mon Nov 9, 2009
Hello Friend;

FHA and VA loans work very much in the same way. You cannot have more than 2 payments that are past due over 30 days. Since you have a bill that was totally unpaid, even though you just paid it off recently, you will need to wait to qualify for the loan.

As far as your eligibility certificate, I think you can get that any time if you have been discharged from the military.

Hope this helps!
0 votes
Monica Miller, Agent, Wichita, KS
Mon Nov 9, 2009
These questions are best answered by a lender. I am not sure who you discussed this, but if you are interested I would love to get you in touch with a great lender that may be willing to look this over for you and tell you what your options are. If you are interested, just contact me.

Thanks,
Monica Miller
Cell: 316-214-1920
Email: Monica@MonicaMillerHomes.com
http://www.MonicaMillerHomes.com
0 votes
Monica Miller, Agent, Wichita, KS
Mon Nov 9, 2009
These questions are best answered by a lender. I am not sure who you discussed this, but if you are interested I would love to get you in touch with a great lender that may be willing to look this over for you and tell you what your options are. If you are interested, just contact me.

Thanks,
Monica Miller
Cell: 316-214-1920
Email: Monica@MonicaMillerHomes.com
http://www.MonicaMillerHomes.com
0 votes
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