I made a general inquiry call to NFCU today to find out what their current minimum guideline are for their VA loans. My Dh and I are looking to start app'ing in about 6 months after we get our util down. I was also wanting to wait to get DH's scores up a bit two to be in a more comfortable position.
Tony, the kind NFCU rep, stated NFCU has NO minimum score requirements as long as you meet the VA's qualifactions. *insert confused look here*. I asked again, there is no score requirement to obtain a VA loan through NFCU? He says no, that as long as there aren't any recent serious derogs and you met the rest of the VA's qualifications you are good to go given your DTI is good (needs to be 41% for NFCU) and you can afford the payments, fees, closing costs etc. Does that sound right at all?? No min score at all for a VA loan? Last time I looked at the VA qualifications, they didn't list a specific score needed, but referred to lenders specific requirements.
