VA home Loan for 100% disabled

[Anonymous]

I said the 100% part because it excludes me from all of the normal Va home loan costs. 

I am trying to figure out what the best bank would be to go through for a small home loan. My wife currently has one now under her name but we plan on selling it soon. My credit has fallen a lot the last 6 months because my wife used my income to buy a truck. (50k)  I have also spent about 30k fixing the current home (we will be able to put atleast 10% down on the new home) and helping my mother who is in the middle of a lawsuit against a big company.  So my Fico went from low 700's to 650? It may be higher in march. Experian  and trans unions is killing me!! Low 600's.

So what do you think would be a good bank to go through? Does anyone have prior experience with Va home /being 100 disabled?

Any input will help, o n btw HI this is my first post. 

Additional info I forgot.

The 100% is a permanent and total disability and I also receive SSDI ( social security disability)  and my wife is a RN. 

[StartingOver10]

Welcome to MyFICO! Thank you for your service to our country.

Have you checked your mortgage scores here on MyFICO? Sounds like you are looking at the FICO 08 scores or another set of scores rather than the mortgage scores. By this report so you have an idea of where you stand (2 of 3 scores, not TU yet):  http://www.myfico.com/Products/FICO-Score-3-Report-View/

Also the loan officers that visit this board will need more info to answer your question:  http://ficoforums.myfico.com/t5/Mortgage-Loans/Do-I-qualify-for-a-mortgage-Info-that-is-needed/td-p/...

[treski]

The 100% part doesn't matter as long as you meet the minimum threshold (I think 30%?) to avoid the funding fee. This applies with any lender.

I am 40% VA disabled and I am in escrow with Veterans United. I chose them because a close friend of mine (who's 100% disabled, now that I think about it) highly recommended them. So far my lending officer has been a dream to work with and they even sent me a little gift last week.

I like the rate we got (4.0% locked with a handful of questionable items in our credit).

Our scores are 640ish and 660ish with $900ish in monthly payments on our debt. $73k income.

[Anonymous]

I don't think your credit score will be a problem. VA loan scores tend to be lower than for a conventional loan. We have a lender willing to go down to 600 on a VA loan. I'd say go with a local bank who has alot of experience with VA. If you can get a good realtor they may know of someone local. Bigger banks and even credit unions are harder. Even Navy Fed wants a 680 on a VA loan.

[EdwardMH]

I want to Thank you for your service. I found that some places do not worry about your credit score as much as you DTI while others accept low scores the average mininum Credit Score desired seems to be 620 I used Veterans United a year ago but could not find a home I liked (dark skies no snow or freezing temps low humidity etc. lol) so the account was closed out. I will either use them again or go to Navy Federal. Also Veterans United has a sister company called lighthouse that can guide and assist with building your credit if needed https://lighthouse.veteransunited.com/ They did not help me as they felt I was already doing what I needed to and just needed to be patient.

good luck in your journey to home ownership.