My first question is do you have any credit cards? If not get a capt1 to start your score movement by spring. Of course there secured card. If you do I would keep up with the good will letters. You may not get much movement even if some collections get removed due to other collections or late payments that might be on your account. This in my opinion will start the score movement. Oh and if you have resent lates try GW them to with lenders.
Starting Score: 5/2012 TU 595, EQ 565, EX fako 547Ok, I know you know this but, only carry a balance on one card before they report. On the one card that will carry the balance try and keep the uitl low( best senario 10%). continue to look for back door numbers on this site for backdoor numbers for your acconts. dont stop with just one GW letter. NEVER be late until you have you have the keys to your home and then DONT! ANY QUESTIONS
@Anonymous wrote:My husband and I are wanting to try for a VA loan. We've found the perfect house! Our only issue is my credit. (See scores below) My husbands credit is great, no problems at all. But our DTI isn't so great...we are right around 50% if we only had my husband on the loan. I would love to be, but I'm not sure what my options are. My credit has been increasing, but slowly. Not having much of an account history is really hindering me. THe collections that I do have are all paid in full, but 5 negative accounts are still showing. I had 6 originally but I was successful with one of my GW letters. Any suggestions to get me to the score I need to be? What is the lowest score for VA loans?
You will save yourself a lot of pain and anguish by not looking at houses until your scores are at least in the 620 range...
In the meantime, you can work on improving the DTI ratio by paying down some bills or paying off installment loans. You may also be able to refinance some of the larger installment accounts which will give you a smaller payment and hopefully allow you to save for a down payment.
Looking at houses right now will only lead to dissappointment... best to focus your energy on productive things like budgeting for the down payment, and reconfiguring some of this debt which is keeping you at 50% DTI ratio.
VA loan programs will help you when your scores are within the guidelines. Unfortunately, right now, for you they are not.
Just keep working on those GW letters.
FICO 9: 
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.
Goal: Gardening!
Filed Chapter 13 on 6/1/2017 after job loss. Discharged 6/1/2022.
Goal: Gardening!
I work with the VA, (not For the VA), while I was in my office this past week I sat down with the VA Home loans coordinator for the regional office that covers my area to speak about the fact we are working on obtaining a home loan, he informed me that the VA does not set minimum scores, that is solely up to the creditor as well as what needs to be paid off (collections, charge offs and such) I have seen several times on here that VA sets these and according to him that is false, The VA does not set any of those standards it amounts to really if you are eligible for a loan the VA will back it essentially devoiding the need to private mortgage insurance(PMI). Now obviously if your creditor wants it you are going to have to do it to obtain the loan. But I think a lot of creditors are using the VA as a scapegoat of sorts to make themselves look better. I hope this information helps, And if anyone else has any information, contrary or otherwise I would be very interested to hear from them. Knowledge is power and the more we learn the closer we all are to our dreams.
Starting Score: EQ 518 TU 589