Hello,The best time to apply is as soon as possible if you are looking to purchase in the near future. We then can make sure you are pre-approved and ready to go when the decision comes in. If you do not intend to be on the loan, then your credit score is not used, although, you credit report will be pulled to determine there are no judgements, leins, or collections. Judgements and leins would be required to be paid off if they would compromise first lein position. If I can be of any help, please do not hesitate to contact me at 707-583-8117. Cindy MacDonell at Bay Equity Home Loans.

The answer is you need to wait for two things. First, we would need to wait and see what your husbands income is after the medical board decision. If by being medical retired means he gets a paycheck for that then we need to wait unti after. if he has no income from the military either when he is out or medically retired then we need to wait and see what his job and income will be so we can qualify him. The other thing is that I need a minimum 620 credit score. You need to also be careful what scoring model you are getting your score from. The mortgage industry uses a model that goes to 850 and there is a consumer model that goes to 990 so if you are a 600 out of 990 then you may be lower on our scoring system. Give me a call at (866) 385-1650, I am in CA.

Clearly the best time to apply is as soon as possible. One of the things an underwriter will be looking for is income to pay your debts. Your husband's impending change could impact this, meaning you may need to wait until after the decision is made for underwriting approval. Regarding your score. If you intend to be on the loan, a minimum middle score needed is 620. It should be pretty easy to get your score up, depending on the factors in your report. Contact a local Mortgage Banker/Broker, rather than one of the big banks. Unlike a bank employee, who is most likely just an order taker, a Mortgage Broker/Banker is Trained, Tested and Licensed in all aspects of Mortgage Origination. He/She will have access to loan products of many lenders, not just those of one bank, and can properly guide you. But more importantly, He/She is trained to take a look at the various different options available to you and guide you into the one that makes the best sense for your situation. Don't forget to check out your selected Mortgage Originator at the National Mortgage Licensing System at www.NMLSConsumerAccess.org ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com

You can apply at any time however you do need income.. so you might have to wait until the decision has been made regarding his medical condition. Also, if he does qualify for VA disability, he might not have to pay a VA funding Fee. Unless there a home out there you need to move quickly on, you might want to wait.. However I would suggest getting with a local mortgage broker, not a bank, and start the application process. Your score is a bit low, but the mortgage broker can show you what you need to do to improve your score to open up all available financing options. With the lower credit scores, you limited to very few lenders, and pricing and rates can be higher. WilliamAcres.com

Hello,Many people are going to tell you to apply as soon as possible. What you want to do is get PRE-QUALIFIED as soon as possible.Call one of the people on this website or go to a local institution and ask if a VA loan is even the best option for you.This isn't going to make alot of sense in the beginning of the process but depending on the % of your husbands disability, the VA loan will tack a pretty sizable fee on the loan. Your husband may qualify for a better loan with a better payment. The VA loan is definately a viable option, but you will want to provide your loan officer with all the information on your and your husbands work history, pull credit, and determine if you want to put any money down on a new home, what type of payment you can afford etc.An experienced loan officer can tell you everything to get together and send them. From there they can give you a detailed explanation on all your options. I am a phone call/email away! I lend in 49 States!