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I am a retired Veteran looking to get a VA Loan in my new place of work in NJ.

I subscribe to all 3 credit services. As of today I have a Equifax score of 635, Experian 606 and Transunion Vantage Score of 688 (I don't even know what that equates to, as far as FICO). I have had a couple of charge-offs in the last 18 months which have been paid off. I have never filed bankruptcy or had a foreclosure or car reposed. I make $107,000 a year. Is there any hope for me to purchase a home? by terry.carroll.2769 from Brandywine, Maryland. Mar 23rd 2015 Reply

Bert Carpenter (BertCarpenter)
#37 ranked lender in Arizona - 1,828 contributions

Based on what you have provided, it is highly probable that your credit would be more than adequate to qualify for a VA loan. Work with a local Mortgage Banker/Broker rather than one of the big banks or big national mortgage factories. 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. We have access to loan products of MANY lenders, not just those of ONE bank, and can properly guide you. But more importantly, we are 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 ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Licensed in Arizona (AZLO0911876 / AZBK0902429), Washington (WALO40586 / WACL3087) and California (CADOC40586 / CAFLL6036566). We are licensed by the CA-DBO under the CFLL and CRMLA. Loans made or arranged pursuant to CFLL or CRMLA license. ~ ~ 888-889-9950

Mar 24th 2015
Edward Fallon (edfallon)
#90 ranked lender in Pennsylvania - 143 contributions

Terry, I'd love to talk with you about this. I may be able to help. Please call me at 610-308-9001. Ed Fallon, NMLS#144708, Univest Bank & Trust

Mar 24th 2015
William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,727 contributions

you should be fine, but until you sit down with a qualified mortgage broker, you wont know for sure.. The best advice I can give you is to contact a LOCAL mortgage broker and apply with them. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714

Mar 24th 2015
Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 4,054 contributions

Before you get too excited, understand that the score numbers you just provided are based on the "Advantage Score" model. While it is a credit score, that is NOT the same scoring model mortgage companies use. Another way to look at is is think about buying a car. You tell someone you bought a new Ford. Great, but what model Ford? Getting your credit score somewhere?? Great, but what scoring model is it based on?? Typically the Advantage Score is noticeably higher than your mortgage score. Contact a local mortgage broker in your area to apply and see your real mortgage scores and see your qualifications for a VA loan. For VA loans in WI, MN, and SD, visit

Mar 25th 2015
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