How Credit Scores Affect VA Loans
All of your debt and credit history information at the credit bureaus is put into an equation to come up with a credit score. A lower score means you have more problems with your credit history. A low credit score can be hard to handle for many VA lenders. But, not all VA lenders deny Veterans with low credit scores. It is possible to get approved for a VA loan with bad credit.
Can You Get A VA Loan With A Low Credit Score?
Some Veterans think they will never qualify for a VA loan due to a low credit score. It is true that most lenders want to see a minimum FICO score of 640 before approving VA loans. HomePromise is a VA lender that has approved lower credit score VA loans and will continue to do so.
What’s The Minimum Credit Score Required For Approval?
The VA doesn’t have a minimum credit score requirement. VA lenders set their own minimum requirements for approval. For more information about getting a VA loan approved with a lower credit score call to speak with a VA Loan & Refinancing Expert with HomePromise.
“I just want to thank you very much for your work to help us refinance our loans. I know you had to do so much work for us and we really appreciate it. If I know anyone who wants to buy a home or refinance I will do my best to refer you to them. Again, thank you very much.”
“My mother recently had a refinance with HomePromise. The process was easy for her (and I) to follow. The loan representative, Chris Gaus was very helpful and responsive for the entire process and explained everything. I would definitely recommend this company.”