VA loan ?

[Anonymous]

I have MYFICO TU Score 643 - EQ 606 and pulled the Exp from their Site 633, I have no late in 3 years, no car Payments, 1 Mil Star Card no other CC, 2 installment accounts $5000 combined. My Income is $53,000 Net which is Guaranteed Income, I have my VA eligibility and will not have a funding fee, but I have 3 paid Collections on my Credit and one keeps reporting a balance but I have the letter from the Collection Agency stating this is paid, will the lender accept this as proof dispite what the CR has reported? I am a little scared to pull the trigger on the loan without knowing if they will overlook the fib that is showing on the CR.

I am looking at no more than a $125,000 loan and I will also be exempt from property tax which will help I hope with finances for the loan. What are my chances on getting approved with the info I have provided?

[Anonymous]

I can only speak fo rmy experience thus far--which is not much

I have a MYFICO TU of 621 (not sure what credit score USAA pulled)  3 baddies>2 years old.  I have a paid collection from 3 yrs ago.  My salary is close to yours and USAA pre-approved me 3 days ago for 200,000.  The only other debt we have is a small cc and a car payment.

Most lenders will take the paid in full letter into account when they are evaluating your credit worthiness.  If you are a member of USAA yo umay want to give them a go.  I've also heard certain credit unions will not take your credit score into account when evaluating you for a VA loan--although they do look at your credit history.

[Anonymous]

I went ahead and had my credit pulled for the VA Loan and it was not as bad as I thought it was- TU-654    EQ-606  EXP- 648, I stiil don't understand why EQ is so low but the middle score is what counts. The only problem I have is that I am in the process of being Medically Retired and I have not made it to the VA portion yet and the lender will not count my AD income because it will be ending soon, I have SSDI but I will have a little time to wait until I get my % from VA although I will be able to count my Military % as soon as I get it. I should be good until the VA kicks in and my packet is in FT. Sam Houston now and should be finished in a few weeks. I have been a member of USAA for years but have been talking with this lender for 3 months and they have helped me take care of some of my problems and I feel connected to them in a way.

[Anonymous]