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VA Home Loan

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Has anyone the VA for there Home Loan

If so how hard are they about your Credit Score

Thanks for any Advise

With VA loans the actual Fica score is not a factor, what is looked at is the payment history.

:)

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The VA wants a score of 620 and if you have had past lates or any negative information they want a letter stating what caused it.

mom939409 is correct.

In school remember a chapter on VA loans, these loans were intended for Veterans returning from war, having damaged credit. The seven years writing loans (5 to 20 a month), remember the key difference between VA and other loans was the credit score requirement.

Effective March 6, 2009, a minimum credit score for VA loans had to be 620 will be required to be eligible for VA loans.

ref - VA Loan Information - VA Loans for Veterans and Active Military

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mom939409 is correct.

In school remember a chapter on VA loans, these loans were intended for Veterans returning from war, having damaged credit. The seven years writing loans (5 to 20 a month), remember the key difference between VA and other loans was the credit score requirement.

Effective March 6, 2009, a minimum credit score for VA loans had to be 620 will be required to be eligible for VA loans.

That would be correct. The VA doesn't have a credit requirement, but the government isn't giving the loan, they are only backing it. The lender has final say on the credit requirements, which generally lands at a minimum of 620. VA loans also have a less strict debt-to-income ratio, falling at a maximum of 41 percent.

Referenced from Veterans United Home Loans: VA Mortgage Spe******ts

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