My name is Ryan Wohlert and I'm the branch Manager of Meridian Mortgage Solutions. Please feel free to contact me at 317-968-9500 or go online to meridianmortgagesolutions.net and I'll be more than happy to get you pre-qualified for a new home loan.... more
Your best bet is to stay outside, or very close to the 465 loop to get a good 4 bedroom home in a nice area in your price range.This would keep you out of IPS and into one of the surrounding township schools. Which one and area depends on what you find desirable, and what activities your children are in at school, with different schools having different specialties. I would be happy to assist you with your search for your new home, since that is kind of my job! :) Give me a call at 317-721-2274... more
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.... more
With government loans (FHA/VA) it is not so much the scores that matter but the "why" behind the scores. If you have had a lot of recent delinquencies or non-medical collection accounts or a foreclosure or bankruptcy in the last few years then you will probably need to provide a really good explanation and show strength in other areas of qualifying, such as a higher down payment and/or lower debt-to-income ratios. Then it is in the hands of an underwriter to determine if you are a good risk.
If your scores are just low because of some mis-steps in the past and you have kept your nose relatively clean the last 12-24 months then you shouldn't have much trouble.
Either way, like the others said, speak to a local, reputable lender who offers the VA program and go through the approval process with them
I have already answered your question once but came back to read what others have said. Some are referring you to Hamilton County....VERY expensive homes for vinyl siding and almost no brick and the traffic is terrible. Some of the Hendricks County area is under the airport flight paths and that would be very bothersome. They are right to tell you to stay outside the 465 loop. The neighborhoods have a more small town feel than those inside the loop. You don't want to live 40 miles from your work. Try to find something closer. My home is for sale which is in Decatur Township just 5 minutes outside the 465 loop, is a custom built home, all brick with wood trim. 4 or 5 bedroom, 3 bath, formal dining room, eat in kitchen, 3600 square feet. $219,900. Very good price for the amount of sq. ft. Email me for more information. Lowebb@aol.com. Use "Home Information" in the subject line.
Sincerely, Happy Hunting... more