VA guaraty home loan programs

molliehuber · Joined: 08 Feb 2007 Posts: 10 4.93 Dollars($)

Do you have any information on VA secure home programs/ Are they too strict, do they go by the FICO score?

Guest 0.10 Dollars($)

VA loans require you to have minimum 580 as the middle score.

jameshogg · Posted: Sun Apr 27, 2008 9:47 pm Post subject: RE: VA loan FICO score

Hi Mollie,

VA loans are a good option for any veteran. You don't need to pay cash upfront, I mean it's a no down loan and also the FICO score requirements are low enough. But a lot depends on whether you have late payments or missed payments in the past 1-2 years of applying for a VA loan.

How's your debt to income ratio? Even if it's higher there are chances of getting VA loan.

Thanks

Niicss · Joined: 03 Oct 2005 Posts: 1047 156.15 Dollars($)

Welcome Mollie,

Are you a veteran? VA loan is easier to qualify than the regular loan programs. You need to pay little or no down payment and also allowable closing cost is fewer. Even VA funding fee can be financed into the loan.

Check out the discussion for better understanding of VA loan http://www.mortgagefit.com/firsttimebuyer/loan-programs.html#33548

Let me know if you have any further queries.

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