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What is the lowest credit score accepted to get a VA loan?

I am a 65 year old retiree and looking to get a loan to buy a property for my children's family. I'm wondering what the lowest score accepted is, and how long does the process take? by lisa516 from Arizona City, Arizona. Jun 30th 2015 Reply

William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,726 contributions

For Va financing, "YOU" the veteran must live in the property.. you cannot purchase for someone else.. VA does not have a minimum credit score, however VA does not lend money.. they only insure loans against default.. each lender offering VA financing will have their own varying guidelines regarding minimum credit scores, but for most, it will take a 620 to 640.. I have a lender who will go to 580, but understand that the lower the score, the stricter the guidelines are.. I would be happy to look at your specific scenario and let you know what is possible. 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

Jun 30th 2015
Derick Condron (rightstartoregon)
#31 ranked lender in Oregon - 598 contributions

VA is only for Owner Occupied loans and typically the lowest any lender will allow is for a 580 credit score, at this score they will probably ask for compensating factors in order for the loan to get approved

Jul 1st 2015
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