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Registered: ‎01-28-2013
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Disabled vet, FI 621 can I get a VA loan

Help! Im living in a trailer (poor investment), receiving VA disability and ssd. Our parcel was rezoned Mult family/unit and I think the park is selling. I also am a caregiver to a sick man on ssi with horrible credit, so any house purchase will be my sole responsibility.

 

Does 621 FICO qualify me for a VA loan without having to repair credit issues that still lurk on my report? I have no money, but I pay my bills the last 2 or 2.5 years. There was illness, death, housing bubble, depression and sadly mismanagement of money at times. 

 

Advice? Id like again to own a small home, but I can't afford to pay my old bills and move forward while helping other people at the same time.

 

Thank you,

exnavyguy

Super Contributor
Posts: 6,624
Registered: ‎07-03-2007
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Re: Disabled vet, FI 621 can I get a VA loan

there are many lenders at 620+

 

go ahead and apply

 

* While I try to visit the forum often, please feel free to contact me directly with a link to your post if I fail to answer a follow up question.

* Lending across the entire 'Great State of Texas' since 2004
New Visitor
Posts: 2
Registered: ‎01-28-2013
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Re: Disabled vet, FI 621 can I get a VA loan

You just made a grown man cry. I worked hard, even held my breath at times trying to repair and maintain what credit I do have ever since having to short sell my dream home and $30,000 in investments 3 years ago after a series of life shattering events. 

 

Valued Contributor
Posts: 3,406
Registered: ‎12-19-2012
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Re: Disabled vet, FI 621 can I get a VA loan

Your story made me sad as well. I filed BK twice in 2003 and 2005. First one was a 7 and second a 13. We lost our dream home in foreclosure...we did all we could to try and save it. It has been so hard to get into the 700's, this is the first time in my life that I ever hit a 700 score. I have been working on it for 7 years and my evil landlord wants to try to take it all away just because I won't buy her home. So very sad and worried right now but you keep your head up. I thank you greatly for your military service and the service you continue to provide to others in need. God Bless You and go on ahead and apply. There are lenders that approve a 620 and I think the VA would want to help you become a homeowner.
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! Smiley Happy Last App: 4/5/13 Gardening until July 2014
Super Contributor
Posts: 6,624
Registered: ‎07-03-2007
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Re: Disabled vet, FI 621 can I get a VA loan


ohbeehave wrote:

You just made a grown man cry. I worked hard, even held my breath at times trying to repair and maintain what credit I do have ever since having to short sell my dream home and $30,000 in investments 3 years ago after a series of life shattering events. 

 


 

 

I guess that is a good thang?!?!?!

 

LOL

 

Just make sure you are working with a good loan officer who deals with credit scenarios like this.... they are out there....

 

Note: I said loan officer.... not lender.... the best lender can have bad loan officers working for them.

 

your situation requires a loan officer who knows that particular loan guideline very well and one that also understands fico scores very well.

 

* While I try to visit the forum often, please feel free to contact me directly with a link to your post if I fail to answer a follow up question.

* Lending across the entire 'Great State of Texas' since 2004
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