Question

Can you tell me the minimum credit score required for a VA home loan?

Answer 1

A lot depends on the lender as far as credit score. Technically there is no minimum score but lenders will set their own minimum. Typically the low end is 620 but some go lower. What's your score?

Answer 2

There are no credit score requirements with VA LOANS.  I recently closed on a VA LOAN with 58% DTI. There are no debt to income ratio requirements.  My company has no lender overlays on government and conventional loans and just go off Automated Underwriting System Findings.  Key in getting an approve eligible per AUS FINDINGS is residual income, reserves, timely payments for past 12 months. It is recommended that borrowers have 580 credit scores.  Gotten approve eligible per AUS FINDINGS on lower than 580 credit scores.  Many lenders have overlays on VA LOANS where they require 620 credit scores.  This is not VA GUIDELINES but rather lender overlays.  There's direct VA LENDERS like The Gustan Cho Team at USA MORTGAGE where there are no overlays on VA Home Loans.

Gustan Cho
Branch Manager
USA MORTGAGE
A Division of DAS ACQUISITION COMPANY NMLS 227262
www.gustancho.com