Get A VA Loan With A 550 Credit Score

CALL (253) 210-2804 to Get Pre-Approved

If you’re a Veteran or currently in the US Armed Forces, you can now get a VA Home Loan with a 550+ Credit Score. You’ve probably been told by lenders, friends, etc that you need to have a 620 or better score to qualify. Here are the FACTS: The VA recognizes that many military service members and veterans often have unique circumstances when it comes to their credit history. That’s why the VA doesn’t have a credit score requirement for VA Loans.

From VA.GOV:

KEY UNDERWRITING CRITERIA:
• No maximum debt ratio; however lender must provide compensating factors if total debt rati over 41%.
• No maximum loan amount; however, VA does limit its guaranty; Veterans can borrow up to $424,100 without a down payment in most of the country. Find out the limit in any county.
• Published residual income guidelines to ensure Veterans have the capacity to repay their obligations while accounting for all living expenses.
No minimum credit score requirement; instead VA requires a lender to review the entire loan profile to make a lending decision.

As you can see, the VA allows the lender to decide what credit requirements to consider when lending to a VA Borrower.

Lender Reduced Credit Score From 620 from 550

Most lenders require a 640 or 620 credit score for VA Loans. We work with a lender that has reduced this requirement and will now accept a 550+ Credit Score.

If you’ve been turned down by a lender citing your credit score being lower than 620, there’s still hope to get into the home you’ve always wanted. Pre-Approval is quick and easy. It only takes 5-10 minutes over the phone to find out if you can qualify.

Fill out this form:

or call (253) 210-2804

To get pre-approved today.