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Minimum score for VA Loan approval

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Contributor

Minimum score for VA Loan approval

Does anyone know what the minimum FICO score is to be approved for a VA loan?  Do they use the FICO score?


Starting Score: EX649/EQ637/TU611
Current Score: EX649/EQ637/TU620
Goal Score: 750+ ALL 3 by December 2012


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Message 1 of 9
8 REPLIES 8
Regular Contributor

Re: Minimum score for VA Loan approval

620 mid score and yes most lendersuse a FICO

Starting Scores:TU/513 EQ/484 EXP/513 3/2012 (lender pull)
Current Scores:TU/681 EQ/637 EXP/613 11/2012 (lender pull)
Goal:700 across the board
Message 2 of 9
Contributor

Re: Minimum score for VA Loan approval

Thank you!!  So many people viewed but didn't reply.  I appreciate it!


Starting Score: EX649/EQ637/TU611
Current Score: EX649/EQ637/TU620
Goal Score: 750+ ALL 3 by December 2012


Take the FICO Fitness Challenge
Message 3 of 9
Regular Contributor

Re: Minimum score for VA Loan approval

no problem.  My husband and I are applying for a VA preapproval Monday so that's why I know.  There is not that much info here about VA loans.

Starting Scores:TU/513 EQ/484 EXP/513 3/2012 (lender pull)
Current Scores:TU/681 EQ/637 EXP/613 11/2012 (lender pull)
Goal:700 across the board
Message 4 of 9
Contributor

Re: Minimum score for VA Loan approval

Who are you applying through?  


Starting Score: EX649/EQ637/TU611
Current Score: EX649/EQ637/TU620
Goal Score: 750+ ALL 3 by December 2012


Take the FICO Fitness Challenge
Message 5 of 9
Regular Contributor

Re: Minimum score for VA Loan approval

We have a private LO we are working with.

Starting Scores:TU/513 EQ/484 EXP/513 3/2012 (lender pull)
Current Scores:TU/681 EQ/637 EXP/613 11/2012 (lender pull)
Goal:700 across the board
Message 6 of 9
Member

Re: Minimum score for VA Loan approval

The VA says 620 but my lender wanted 640 fico mid score.
Message 7 of 9
Contributor

Re: Minimum score for VA Loan approval

When we did our VA loan our lender wanted 640 as well. and be prepared to give 2 years of everything. Smiley Happy Good Luck to you!

Message 8 of 9
Regular Contributor

Re: Minimum score for VA Loan approval

Just wanted to confirm what others have posted here.  We recieved our pre-approval today and our LO wants me to be at 640 before we go into underwriting.  640 and up qualifies for a better rate.  I am currently 639 mid score so I should be good.

Starting Scores:TU/513 EQ/484 EXP/513 3/2012 (lender pull)
Current Scores:TU/681 EQ/637 EXP/613 11/2012 (lender pull)
Goal:700 across the board
Message 9 of 9
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