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Answers (4)
- John Conklin, "203K Alternative"
- Contributions:130
With a 625 FICO score you can qualify for VA loan assuming you meet all the other guidelines, however your pricing would be more favorable with a higher FICO score. I would suggest having your loan officer run your credit through a credit analyzer to see how you can improve your score.
- David Stein, "Military Loan Expert"
- Contributions:315
Yes a VA loan at that credit score is easy to get, so long as you meet all the other requirements. Good time to buy in Phoenix now, lots of great deals out there.
- Justin Coleman, "UtahLoanProfessional"
- Contributions:72
As Chet mentioned, some of us will go down to 600, but I do wonder what has your credit down in the 620 range? perhaps you should look at that to ensure you are fixing all of the issues you may have on the report while there is a Lending professional looking into your credit file.
If there are errors on you report, usually a Lender will be able to do what is called a Rapid Rescore on the credit file that will yield a higher score in less than 72 hours.
Higher score means lower rates across the board - Mortgage, Car, Credit Cards etc. - it is worth a look!
If there are errors on you report, usually a Lender will be able to do what is called a Rapid Rescore on the credit file that will yield a higher score in less than 72 hours.
Higher score means lower rates across the board - Mortgage, Car, Credit Cards etc. - it is worth a look!
- Chet Mann, "Chet Mann"
- Contributions:3
Some Lenders will approve a VA mortgage loan with a minimum credit score of 600. As long as you have good past mortgage payment history and your residual value is strong you should not have too much difficulty. As long as your income is stable and other compensating factors are good the VA loan is a great loan program.
Applying soon for VA loan and have a low credit rating FAIR + 625 Will it be difficult for me to get
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