VA Loan probability NFCU

[dpechal]

Hello everyone,

     I am looking to get advice on my chances of being preapproved for a VA Loan of at least $200,000.

Credit is around 720's combined with spouse (This is the mid-score NFCU told us).

No Baddies

Age: 27

Inquiries (This is the part that worries me) 17,14,11 (EQ,EX,TU)

New Accounts in last 6 months: 7 accounts (yeah I know)

Income (Combined): 56k

Debt: $3400

Savings: 15k

Liquid Assest (IRA's ect): 68k

Worried I will be pre-approved, but shot down at UW due to previous inquiries and new accounts

Any and all advice is always greatly appreciated!!

Thanks,

DPechal

[dpechal]

Bit the bullet,

     Called NFCU, Requested $250k, was prequalified, they told me to find a house.  The whole process took 2 minutes.  Kind of nervous to be prequalified with such minimal info.  They asked where I wanted to buy a home, when, how much I wanted, gross monthly income.  After that they said okay, your are pre approved, everything is subject to UW, I don't have a sales contract yet, but they said that is the next step.  If anyone has any questions, please PM me or post back on this thread.

DPechal

[mnat]

I have been in their preapproval process for over 2 weeks now for a VA loan. Since we have some past credit problems and the house we are buying requires a hefty down payment to build out, we didn't trust going with a pre-qual. Our application is currently being reviewed by a committee. The waiting is making me crazy. Hopefully we will get an answer on Monday.

[dpechal]

Also,

     Just to add, I filled out an actual application at the beginning of this month, so if some are wondering if this is pre-qualified vs pre-approved.  It is a pre-approval.

[dpechal]

Mnat,

     I hope you the best of luck!