Slow go with the VA Loan Process

[Anonymous]

I have turned all Docs in before the processor asked for them, I have faxed all of my Disability and retirement pay info to him, I have a contract on a New home, Builder paying closing and prepaids, No property Tax in my state due to my Service Injuries, no funding fee.  I was pre-approved for 130,000 using just my SSD Income because of my pending retirement they would not use my Military Pay.  My question, with a 654 middle score what are my chances of getting a final approval? No lates in 3 years, no past dues, I have 3 bills- 1 Credit card at 7% - 2 personal loans 2500 each, no car payments, VA Dis., SSDI Total non taxed income 65,000 a year guaranteed, The processor has ordered the title search and at what point in the mortgage process is the title search done? Is that a sign that the loan is going thru?

[Anonymous]

It sounds like so far so good for your home loan.  VA Loans take a little while to close...so don't get too discouraged with the time frame of everything.  Based off of the information you gave, it sounds like you have a solid file to get the loan closed.  Underwriters can find little things that you'll have to explain or verify, send documentation, do letters of explanation, etc. since it is a Government Loan.  Hang in there...it sounds like things are on the right track, even if they are putting along!

[Anonymous]

Sounds like you should be fine. My entire process took exactly one month. My lender wanted a middle score of 620 (which I hear is common for VA).