We are looking to purchase, VA financing. Is the credit criteria still as high (score wise) as with other lending institutions? What is minimum score?

Asked by Susieo811, Gun Barrel City, TX Thu Nov 17, 2011

to enable a successful VA loan?

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Answers

5
Rob Weber, Mortgage Broker Or Lender, Plainfield, IL
Thu Nov 17, 2011
With an automated approval, Debt-To-Income ratio less than 41% of your gross income and for purchases only, I have a 600-619 solution you'd qualify for as of when I'm writing this post.

You can reach me via my website below or through my profile. I lend in all fifty states.
Web Reference:  http://RobWeber.com
0 votes
Tommy Burris, Mortgage Broker Or Lender, Baton Rouge, LA
Thu Nov 17, 2011
Susie

Most lenders want a 620 score.

Do you know your scores?

http://dallasloanguy.com/wp-content/uploads/2011/11/about_cr…

Read the free ebook at the above link and call me. Maybe we can do some quick work(no charge) to gt the scores up a bit?!?!?!

Tom Burris
Mortgage Banker
DallasLoanGuy.com
(214) 763-4629 cell/text/nights/weekends(Really!!)
tomburris@dallasloanguy.com
Lending all across the entire Great State of Texas!!
0 votes
Annette Levi…, , New York, NY
Thu Nov 17, 2011
Susie,
VA does not have a minimum FICO that is required. They require that you know how to pay your bills on time. With that said, many lenders have overlays on the program and require a minimum of 640. They feel if your score is not that and above, you don't know how to handle your money.
Speak with a mortgage officer that is familar with VA mortgages.
0 votes
Dallas Texas, Agent, Dallas, TN
Thu Nov 17, 2011
More is involved than credit score to apply for a loan . Recommend to speak with mortgage broker who can review your loan application .

Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
0 votes
Anna M Brocco, Agent, Williston Park, NY
Thu Nov 17, 2011
See links for helpful information regarding VA loans...
http://www.benefits.va.gov/homeloans/
http://www.valoans.com/va_facts_credit.cfm
0 votes
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