Hello there! My husband is eligable for a VA loan but we have poor credit 512 & 520. Our income is decent and we can put down 3% if neccessary! The home we are interested in is $130,000.00. Where if possible can we get help? If anyone has been successful I would be interested in were you started out! Thank you!
2006-10-10 14:55:17 · 7 answers · asked by live_wire_electronics@verizon.ne 1 in Business & Finance ➔ Renting & Real Estate
Most likely you will need to improve your credit, VA doesn't handle the financing they just guarantee the lender a certain amount of money if the borrower defaults. You could improve your scores in as little as 4 months with some help and once your at 580 you can get 100% financing and maybe a lower rate, as VA rates are usually higher than conventional. Do save about $3000 and don’t touch it, this will be the reserves lenders like you to have.
2006-10-10 16:19:37 · answer #1 · answered by Dave C 2 · 1⤊ 0⤋
That's a pretty low score but you best go here and check, if any of the answers are out there they should be here:
Department of Veteran Affairs – Home buying programs for Veterans:
http://www.homeloans.va.gov/veteran.htm
Buena Suerte
2006-10-10 15:38:16 · answer #2 · answered by newmexicorealestateforms 6 · 0⤊ 0⤋
VA loans are guaranteed regardless of credit. Talk to your bank, they will get you the paperwork needed.
2006-10-10 15:58:40 · answer #3 · answered by rab2344 4 · 1⤊ 0⤋
I doubt it in this financial gadget. they are so strict approximately credit now. are you able to pay off your credit looks such as you're making good money. ? good success. $27000 to be financed is like getting a sparkling 2010.
2016-11-27 20:26:41 · answer #4 · answered by Anonymous · 0⤊ 0⤋
There are people out there who can straighten out your credit. I know because my brother had it done.
2006-10-10 14:57:21 · answer #5 · answered by darkdiva 6 · 0⤊ 0⤋
GOTTA GET CREDIT RATING HIGHER
2006-10-10 14:57:47 · answer #6 · answered by Penney S 6 · 0⤊ 1⤋
http://www.americanhomepartners.com/
2006-10-10 15:40:15 · answer #7 · answered by Life after 45 6 · 0⤊ 0⤋