VA Loan

[arw]

Current fico 684 TU BK discharged 3 yrs ago, look good for a VA loan? Almost 6k in reserves.

[jmahoney]

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@arw wrote:

Current fico 684 TU BK discharged 3 yrs ago, look good for a VA loan? Almost 6k in reserves.

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I am in no way a professional, but I am able to secure funding with a 620 mid, and a bankruptcy that I'm still waiting on discharge paperwork for. Most of the VA lenders I have talked to require anywhere between 620-660.

[arw]

Thank you for the reply. Just wish I had started improving credit earlier as I did not start getting credit cards again until June of last year, scores would most likely be better if I had started sooner.

I only have two active credit cards one with a limit of $500 and the other with $750 as well as a department store card still showing but has not been used for years... just wondering if that would be enough as far as tradelines...I have excellent rent history as well as utilities.

[andycloses]

If the credit references you intend to use are at least 12 months old and are in good standing and you have at least 3 or 4 such references, you should be fine from a sufficient number of tradelines standpoint. You might be asked for one more alternative credit reference for good measure (cell phone or car insurance or something similar).

Also: If at least one other score is > 620, your debt-to-income ratio (dti) is in line and your file scenario receives an approve-eligible through the VA underwriting system, there should very well be a VA-Underwriter with your lender who will formally approve your file...I know my bank 's Undewriter would sign off on ihe file anyway. Good Luck!

[arw]

Just checked, EQ is 700. Thank you for replying.