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VA Loans

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dab Guest	Posted: Fri Mar 25, 2011 1:02 pm    Post subject: VA Loans Like 0 Dislike 0 I am very irrated - I was wounded severily in Iraq 5 years ago and because I could not work - My family was put into debt. I finally started working for a computer company for about three years and my credit slowly climbed and it is up to 595. But when we applied for a VA Home Loan wer told you need a credit score of 620 or higher. I fought for my country and took huge risks. Why can't banks take a risk on me. This is a disgrace to all veteren's who fought, served and were injured. What is wrong with our goverment? _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Fri Mar 25, 2011 9:21 pm    Post subject: Like 0 Dislike 0 Hi dab! Welcome to forums! I can understand this is a very emotional matter for you. But it is true that for VA as well as FHA loans, you should have a credit score of 620 minimum in order to qualify. For conventional loans, you will require a credit score of 700-720. You need to meet this basic requirement in order to get a loan. Feel free to ask if you've further queries. Sussane
dipaligopale Joined: 25 May 2010 Posts: 790 22.70 Dollars($)	Posted: Sat Mar 26, 2011 4:10 am    Post subject: Like 0 Dislike 0 Hi dab, Welcome to Mortgage fit, Government does care about veterans...I can prove that.....VA loans are 100 % financing...One does not have to worry about downpayment...and these loans are only available to veterans...If you are a common guy you need to put atleast 3.5 % down-payment .... But you are only short of 25 base points... make sure you achieve that by getting a new credit card and paying it on time..it is just a matter of few months... Feel free to ask any further query if you have.... DIPA _________________ 1.The best of intentions must still have directions !--Unknown author 2.When I hear somebody sigh, "Life is hard," I am always tempted to ask, "Compared to what?" - Sydney J. Harris

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