If we are using a VA loan to buy a house, does our credit have to be good?
2010 February 7
We’ve bought 2 houses in the past by VA loans but our credit was ok, it’s not that splendid now that we’ve joined a debt mgmt assemble but we are effective toward being paid it better. Can we subdue get a VA loan and get a household?
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As a ex- VA sponsor, you can get another household, but, there is no benefit to you being paid a THIRD VA finance.
They are usually only beneficial for your first home…here is why…
Everytime you reuse your VA eligibility, the funding fee that you have to pay when you originate a new finance increases.
I in person would wait until you have a mid-score of 620 and no lates on your tab for a minimum of 24 months and pay off any collections/judgements/charge-offs that you have.
Then you must straightforwardly be eligible for an A-paper loan.