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?
09-28-2012 02:34 PM - edited 09-28-2012 02:36 PM
620 mid score and yes most lendersuse a FICO
09-28-2012 02:47 PM
Thank you!! So many people viewed but didn't reply. I appreciate it!
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.
09-29-2012 03:23 AM
Who are you applying through?
09-29-2012 11:07 AM
We have a private LO we are working with.
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.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.