I am going through the same thing now. First I should say that your wife's score will be looked at along with her credit history if she is to be on the loan or if your in a community property state. If your wife's loans are in default you will not be eligible for the VA loan, again if she is on the loan. If she is in default you should start the rehab process now since it takes 10 payments over 9 months to fully rehab and then some additional months to report the new status. Otherwise I am sure other more credit savvy members can tell you about your situation. Good luck with your new home!
She's not currently in default of the loan (I believe). She is in an 'administrative hold' and plans to file a forebearance next month so she can pay some other things off before they jump back on.
We don't live in a Community Property state (NE), so we won't have that issue. So, I can only get a loan for what I make if that's the case, huh?
I have question. My credit was HORRIBLE. I had very old accounts that were in collections and or charge offs. I went ahead and paid everything off and my EXP score went from 589 to 649. The other two agencies don't seem to be moving at all. Would I be able to apply for a VA Home loan with a positive result? I have three incomes from retirement and disability and employment totaling to $86,000.00 a year. Please looking for guidance. Thanks