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Need a minimum 620 credit score to qualify for VA loan

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Need a minimum 620 credit score to qualify for VA loan

My present score is 580 and I need 620 to get the guaranteed loan from VA.  I have some information from my deceased father's account on my FICO and have a question on how to quickly increase my score to attain the requisite 620 score?  I have about 6 charge offs that are screwing me up royally and some of them are from my father's FICO (he passed away 2 years ago).  Any suggestions?

Message 1 of 5
4 REPLIES 4
Established Contributor

Re: Need a minimum 620 credit score to qualify for VA loan

So how quick do you need to be 620?  Like RIGHT NOW? 6 months?  Year?

 

Yeah, 6 charge offfs are screwing ya.  If they are recent, then I dunno.  If you get up the money and pay them off or settle, that will help in how they look at ya on a personal level, but I dunno how that action would affect your score.  I hear you can pay some off for delete, but I reckon that depends on what mood they happen to be in.

 

Perhaps some who have been this road can assist.

Message 2 of 5
New Member

Re: Need a minimum 620 credit score to qualify for VA loan

Contact Lexington Law and use them for at least 4-6 months. They are an excellent source for removing items on your credit. You can also dispute everything yourself.

Message 3 of 5
Established Contributor

Re: Need a minimum 620 credit score to qualify for VA loan


@seeabundance wrote:

My present score is 580 and I need 620 to get the guaranteed loan from VA.  I have some information from my deceased father's account on my FICO and have a question on how to quickly increase my score to attain the requisite 620 score?  I have about 6 charge offs that are screwing me up royally and some of them are from my father's FICO (he passed away 2 years ago).  Any suggestions?


Merry Christmas!

 

First, is it correct to assume the information from your deceased father's account because you shared a "joint responsibility" as in a co-signer?

 

Here's some questions that might allow others to better assist or offer advice:

 

     1)  How many are the charge offs are with collection agencies?

     2)  How many of the charge offs remain with the original creditors?

     3)  Who are the original creditors and collection agencies?  Reason being some collection agencies are easire to strike a "pay for delete" deal to have a negative item

          removed from your account.

     4)  Have you acquired copies of each of your credit reports to verify all correct and incorrect information?

     5)  I would only advise you to use Lexington Law after you have exhausted all "self credit repair avenues".  The money/fees you would be paying Lexington Law could be

          used to pay off some of those charge offs.  Please use the search feature to review information on Lexington Law here on the forum, especially one thread by an 

          ex-employee.  It's very insightful into their practice.

     6)  Have you considered working with Realty Programs to help you repair/increase your credit to qualify for a home loan.  Search the mortgage threads.

     7)  Last but not least, YOU have a VESTED interested in your CREDIT REPAIR/REBUILDING and know how pressing these items need to be addressed.  You can

          can either place that trust/responsibility on a second party or put in the "credit repair sweat equity" and know where you are at each step of the way.  It will also serve

          as a reminder never to repeat the same mistakes, whether they were with good intentions or a part of growing up.  

 

Good luck!

 

 

FICO scores are your calling card to the business world. Build a negative reputation and those doors are hard to open, find that perfect balance of credit responsibility and those doors open when you desire them.
Message 4 of 5
Super Contributor

Re: Need a minimum 620 credit score to qualify for VA loan

get your father's accounts removed.

if you dont know how, hire a reputable credit attorney

 

lexington law?  never heard anything good about them from clients. i send my people to someone else

 

 

 

Retired Lender
Message 5 of 5
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