Would I be even close to being able to qualify for my VA home loan?

Asked by sarahdeah, Carrollton, TX Wed Sep 26, 2012

I am a single mother of one, helped out my family a lot so I have holes in my work history. Moved to KY for two years -work for the same company for the last 15 months, came back to TX summer of 2010-going to school the whole time, graduated college in April 2011, found a job in Oct 2011, switched jobs in Aug 2012 -and now am at a company I want to retire from in 20 or 30 years. Would really like to buy a little house for me and my son because renting is too expensive, have my eye on a house that is listed right now for around $92,000. Would I have a chance at getting this with a credit rating of 631 and making $33,280?

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Amy Arey, Agent, Allen, TX
Wed Aug 13, 2014
So many pieces of the puzzled go into getting you approved (your income, credit-score, work history) that we as agents try to stay away from giving a "yes or no" because we aren't mortgage lenders and don't have all of the information in front of us to make a decision. The best place to start is to go online (to a reputable lender in which an agent has worked with many, many times) and apply: http://www.dromeroloans.com Is one I recommend (David Romero with Highlands Residential Mortgage). Your score should be fine but I would be concerned about the limited income. Sometimes, "school" can be counted towards your employment time.

Feel free to contact me directly if I can be of more assistance.

-Amy S. Arey, Realtor
Halo Group Realty, LLC
0 votes
Yvonne Stubb…, Agent, Little Elm, TX
Sat Mar 15, 2014
Hello fellow Kentuckian. Go Big Blue

Call Trever Kerr, Gateway Mortgage 972-822-7408
trever.kerr@gatewayloan.com he will go over terms and get you pre-approved and a letter to submit with your offer.

then go to http://buyahome.indallastexasarea.com and submit get free listings

and then we will send you homes that qualify

Associate Broker
Home Solutions Realty
0 votes
Bruce Lynn, Agent, Coppell, TX
Fri Sep 28, 2012
With just this information it is hard to tell. Close maybe either way.
Best Idea is for us to get you with a loan officer and see if we can get you qualified.

At this point....stay in the same line of work. Pay all bills on time. Pay down any debt you have. Start saving for down payment, or if you don't need it with VA, closing costs and an emergency fund.

Let me know if you need a great referral to a loan officer.

Thanks for your service.

Bruce Lynn
Keller Williams Realty
0 votes
Dixon Wong, Agent, Dallas, TX
Fri Sep 28, 2012
Hi Sarah,

Good for you for planning for your future.

It appears from your information. You should be ok moving forward with a VA loan. With VA loan, you need to make sure you have the certificate handy with the VA office as it might take sometimes.

Once you have the certificate, you then can get in touch with a VA lender. I would be more than happy to share my contact with you.

I would also be more than happy to show you the home that you are interested. Please let me know if you want to view it.


JP and Associate
0 votes
Trevor Curran, Mortgage Broker Or Lender, Great Neck, NY
Thu Sep 27, 2012
Good morning Sarah and THANK YOU for your Service to our Nation!

Here's my advice for you because your situation "sounds" close to a qualification, but you need to be sure: Meet with a Local Mortgage Banker to get prequalified for VA mortgage financing. The Mortgage Banker will review all facets of your loan request to answer your questions with regards to the types of loans and maximum loan amounts you could qualify for.

Trevor Curran
NMLS #40140
0 votes
Sandy Setliff, Agent, Anna, TX
Wed Sep 26, 2012
Good for you for setting goals and planning for the future, Sarah...and thank you for your service.

Interest rates are great right now and a good mortgage banker can assess if you can qualify for any special programs such as the VA loan you mentioned. Our agency has a special relationship with a great VA lender and I would love to put you in contact with them to see how they can help you find a loan to fit your situation. Please call or email me and we can work towards finding you that home you desire.

Here's to making your dream of your own home a reality!

Sandy Setliff
0 votes
jean pasvar, Agent, Dallas, TX
Wed Sep 26, 2012
I would love to have you complete an application with my loan officer. He is an expert in finance and would be able work with you in obtaining a loan.

Please email me your contact information and I will have him call you in the morning.

Jean Pasvar
William Davis Realty
0 votes
Tommy Burris, Mortgage Broker Or Lender, Baton Rouge, LA
Wed Sep 26, 2012
Is current job in the same line of work as your degree from school?
What was the Oct 2011 job?

Tom Burris
Mortgage Banker
(214) 763-4629 cell/text/nights/weekends(Really!!)
Lending all across the entire Great State of Texas!!
NMLS# 335055
Search Dallas area MLS for FREE. No registration => http://www.ntreisinnovia.net/cgi-ntr/BR_login?0501134
0 votes
Would seeing if I qualify for a mortgage make my credit score drop? I know all of my credit scores, I just did a credit report less than two weeks ago with truecredit.com.
Flag Thu Sep 27, 2012
My current position is a operations coordinator for a logistics company with talk of account management in the near future. My degree is in Business Administration. I was an inventory control specialist for a printing company for the job from Oct 2011.
Flag Thu Sep 27, 2012
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