Mort. consultant told me it's impossible to qual. for 203k after approving me for a VA and FHA loanHello everyone and thank you for taking the time to answer my questions. I was recently approved for both a VA and FHA loan. I was looking for some way to buy a house in need of repair and finance the repairs with the amount I was approved for on my mortgage. I asked my lender about the 203k loan and he said it is basically impossible to get the loan unless you have a credit score of above 700 and a "very low debt load." After more research into this, it seems as if it is a program to help those on the other end of the spectrum who only have decent or even worse credit scores. What are your thoughts? Also, this may be of importance: I have a home in North Carolina that has a tenant in it. I first bought the home in 2010 while I was still in the military and purchased it on a VA loan, but ended up moving back to Texas for school. I am not an investor and do plan on living in this new home I purchase until my daughter graduates high school (14 yrs). Will this hinder me from qualifying for the 203k program even though I was already approved for an FHA loan?July 12 2013 - Dallas0YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.