VA Loans

[Anonymous]

Hello All,

I am trying to find a lender to approve a mortgage. I have been working on my credit for about a year now and got it up over 100 points but Im still falling short of the 620 mark (T/U 585, EQ 567, EX 575) I have a few reposesions from 2012 from a divorce that are killing me. I don't have the means to pay off these debts currently but I can't get approved for a mortgage. I have been doing everything else possible; secure credit card, no late payments, etc. but my past won't go away. I am epeting my EQ score to go up any day now as I paid off the ballance on my credit card. Its already been reported to the other two and made a significant jump. Please help.

[RobertEG]

I am not an expert on VA loans, but my understanding is that the 620 mark is not an explicit requirment for all VA loans.

My understanding is that indvidual lendors can accept lower scores, albiet under worse terms, such as higher APR.

You might consider a different prospective lendor who has less stringent underwriting requirements as to min score......

[Anonymous]

Try Navy Fed Credit Union, they don't have credit score limit on VA Loans.

[Anonymous]

I haven't used NFCU personally, but have had a few shipmates use it and they said it's was a horrible process. They dragged their feet and weren't much help.

[Anonymous]

And that's only for their mortgage process. Most of their VA loans seem to be contracted out to smaller operations