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Contributor
Mistakes
Posts: 75
Registered: ‎10-19-2011

Minimum score for VA Loan approval

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‎09-28-2012 10:31 AM

Does anyone know what the minimum FICO score is to be approved for a VA loan?  Do they use the FICO score?

Starting Score: EX649/EQ637/TU611
Current Score: EX649/EQ637/TU620
Goal Score: 750+ ALL 3 by December 2012

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Regular Contributor
vabound
Posts: 147
Registered: ‎03-21-2012

Re: Minimum score for VA Loan approval

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‎09-28-2012 02:34 PM - edited ‎09-28-2012 02:36 PM

620 mid score and yes most lendersuse a FICO

Starting Scores:TU/513 EQ/484 EXP/513 3/2012 (lender pull)
Current Scores:TU/681 EQ/637 EXP/613 11/2012 (lender pull)
Goal:700 across the board
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Contributor
Mistakes
Posts: 75
Registered: ‎10-19-2011

Re: Minimum score for VA Loan approval

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‎09-28-2012 02:47 PM

Thank you!!  So many people viewed but didn't reply.  I appreciate it!

Starting Score: EX649/EQ637/TU611
Current Score: EX649/EQ637/TU620
Goal Score: 750+ ALL 3 by December 2012

Take the FICO Fitness Challenge
Message 3 of 9 (1,116 Views)
 
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Regular Contributor
vabound
Posts: 147
Registered: ‎03-21-2012

Re: Minimum score for VA Loan approval

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‎09-28-2012 07:58 PM

no problem.  My husband and I are applying for a VA preapproval Monday so that's why I know.  There is not that much info here about VA loans.

Starting Scores:TU/513 EQ/484 EXP/513 3/2012 (lender pull)
Current Scores:TU/681 EQ/637 EXP/613 11/2012 (lender pull)
Goal:700 across the board
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Contributor
Mistakes
Posts: 75
Registered: ‎10-19-2011

Re: Minimum score for VA Loan approval

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‎09-29-2012 03:23 AM

Who are you applying through?  

Starting Score: EX649/EQ637/TU611
Current Score: EX649/EQ637/TU620
Goal Score: 750+ ALL 3 by December 2012

Take the FICO Fitness Challenge
Message 5 of 9 (1,056 Views)
 
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Regular Contributor
vabound
Posts: 147
Registered: ‎03-21-2012

Re: Minimum score for VA Loan approval

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‎09-29-2012 11:07 AM

We have a private LO we are working with.

Starting Scores:TU/513 EQ/484 EXP/513 3/2012 (lender pull)
Current Scores:TU/681 EQ/637 EXP/613 11/2012 (lender pull)
Goal:700 across the board
Message 6 of 9 (1,030 Views)
 
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Member
84092
Posts: 11
Registered: ‎06-14-2012

Re: Minimum score for VA Loan approval

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‎09-30-2012 03:26 AM

The VA says 620 but my lender wanted 640 fico mid score.
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vlaw1084
Posts: 80
Registered: ‎04-09-2012

Re: Minimum score for VA Loan approval

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‎09-30-2012 04:11 AM

When we did our VA loan our lender wanted 640 as well. and be prepared to give 2 years of everything. :smileyhappy: Good Luck to you!

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Regular Contributor
vabound
Posts: 147
Registered: ‎03-21-2012

Re: Minimum score for VA Loan approval

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‎10-01-2012 01:23 PM

Just wanted to confirm what others have posted here.  We recieved our pre-approval today and our LO wants me to be at 640 before we go into underwriting.  640 and up qualifies for a better rate.  I am currently 639 mid score so I should be good.

Starting Scores:TU/513 EQ/484 EXP/513 3/2012 (lender pull)
Current Scores:TU/681 EQ/637 EXP/613 11/2012 (lender pull)
Goal:700 across the board
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