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Are there any mortgages out there right now that we would qualify for?

My husband and I have been trying to get a mortgage for a house for the past two years.  His credit score is 588 and my credit score is 630.  We are hoping for a VA loan since we have our COE, but our mortgage person still hasnt gotten back with us in a week.  We are getting very tired of getting turned down and would like to know if we have any chances of getting the option to buy a house.  Our DTI is 30% which is better than it has been.  So I am not understanding why we cant seem to get a mortgage.  Does anyone have any advice for us?

 
  • March 14 2014 - Grant
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Answers (4)

As long as your scores are above 580, then you should be able to qualify for FHA and VA loan options. If your current lender is falling behind, do not be afraid to check out other lenders. When it comes to your credit, you should be good. Of course you will need to be strong in other areas of your finances as well including your income, debt, expenses, assets, down payment, employment, etc. The best thing for you to do is to speak with a knowledgeable lender to see if you can get started on financing a new home. If you need additional assistance, feel free to reach out. Good luck!
  • March 17 2014
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When you done playing with around with all the Rookies out there, please feel free to contact me direct. I am a Vet and have been doing VA loans for over 25 years and have a long history of closing loans for my fellow Veterans with less than perfect credit.
  • March 15 2014
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I'd suggest going with a lender whom is direct with GNMA, which is the GSE for VA loans. Most of them will have less restrictions. It may be possible, as we would need more info to do any qualifications, but the information that you've provided shouldn't eliminate you from qualifying for a mortgage.
  • March 14 2014
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You need to have someone review your credit and see what you can do to increase the score. Most lenders pull credit from Kroll Factual Data. There is a program built inside of it called CreditXpert (most loan officers have no clue they have access too) that I can run scenarios on increasing a borrowers scores. I swear 75% of the time the thing that kills someone's score is a cell phone contract canceled early or something like it. I can help and run the report for you so you atleast can get some type of direction to increase the scores.
  • March 14 2014
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