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Is a 640 Credit Score Good Enough for a VA Loan?

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How Credit Scores Affect VA Loan Approval

Have you been turned down for a VA home loan with a 640 credit score? Don’t lose hope!  Your application may result in a denial from some VA lenders but you may not have to wait to increase your credit score in order to qualify with HomePromise. You may be able to buy a home sooner than you think. Call or apply now to find out!

When applying for a VA mortgage it’s true that your previous activity and debt from credit cards may affect your credit score. Also, it is important to note that excessive debt increases your debt-to-income ratio. All of your debt information at the credit bureaus is put into an equation to come up with a credit score. A lower credit score on your credit report means you probably have more problems with your credit history than other people. But not all VA lenders deny Veterans with low credit scores.

Can You Get A VA Loan With A 640 Credit Score?

The main question asked by veterans is this: Is a VA loan 640 Credit Score Good Enough? Some Veterans think they will never qualify for a VA loan due to a credit score at or below 640. While it is true that most lenders want to see a minimum credit score of at least 640 before approving VA loans, there are some VA lenders like HomePromise that may approve VA loans even lower than 640. Give us a call now to see if you qualify.  Don’t worry, not all VA lenders have the same minimum credit score.  The good news is that HomePromise’s minimum credit score is 580.

What Is The Minimum Credit Score Required For Approval?

You probably would be surprised to find out that the Veterans Administration doesn’t publish a minimum credit score for VA loans. Each VA lender makes their own minimum credit score requirement for approval. For more information about getting a VA loan approved with a challenging credit history call 800-720-0250 to speak with a VA Loan & Refinance 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.

Mary - Hanover, PA

This company out did themselves in my expectations. They were not pushy; they waited on me and kept contact with me even when I wasn’t sure if I was going to be able to refinance. I had a wonderful experience and highly recommend them for your next mortgage needs!

Paul - Waynesboro, PA

My mother recently had a refinance with HomePromise. The process was easy for her (and I) to follow. The loan representative was very helpful and responsive for the entire process and explained everything. I would definitely recommend this company.

Dorothy - San Diego, CA

I am a Veteran and they helped me understand the best options with my VA loan. They were great all through the process. I will definitely be telling others about Home Promise.

Jeff - Richmond, VA

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