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what is the minimum credit score required for a VA loan please?

for homes in the $400- $500K range in Corona, Temecula, Murrieta and surrounding. I have nevr purchased before and am no longer active in the military. could i still get 100% financing with a 697 fico by biggerscharlie089124 from Temecula, California. Jun 10th 2014 Reply


William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,707 contributions

Since it takes more than a credit score to obtain financing, it's hard for anyone here to say what you would qualify for without looking at your complete loan scenario and profile.. that being said, 697 is acceptable for VA financing.. most lenders wish to see a 660 or higher for VA, and some go as low as 620, with a handful going even lower. To get started, I would recommend you contact a LOCAL mortgage broker and apply with them. By applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with numerous lenders, seeking out the best loan terms for your particular scenario. Because he has lower overhead, he can offer you lower rates and lower 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. 480-287-5714 WilliamAcres.com

Jun 10th 2014
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Steven Ceceri (CreativeFinancingOptionsGroup)
#36 ranked lender in Massachusetts - 723 contributions

Typically a 620 Score will get you into a VA Insured Loan, but there are more criteria than just credit scores, so I'd suggest you speak to a local mortgage professional who specializes in helping Veterans with financing. Good Luck.

Jun 10th 2014
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Jamie Lynne (nationwidelenderforyou)
#140 ranked lender in Texas - 576 contributions

Yes you could as long as you meet the other guidelines. I offer 100% VA loans down to a 530 middle score. Let's discuss your VA loan scenario in more detail. Contact me at 800 315 8803. My name is Jamie and I am a proud vet that has been offering VA loans since 1989. I am happy to answer your mortgage questions, 7 days a week and review your loan scenario. Until then, I look forward to hearing from you. Jamie Lynne - Lending Nationwide Since 1989 - jamie@bartprequalifies.com - www.bartprequalifies.com

Jun 10th 2014
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YOGESH SHAH (yogesh55)
#739 ranked lender in California - 7 contributions

620 minimum score.. 90% no problem.. what is your score??

Jun 10th 2014
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YOGESH SHAH (yogesh55)
#739 ranked lender in California - 7 contributions

620 minimum.. 90% no problem.. what is your score??

Jun 10th 2014
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Jennifer Roblee (jennif_376_374)
#775 ranked lender in California - 5 contributions

In Riverside county the max loan limit on a VA loan is $417k. We are also a Homes for heroes lender which is a program that covers most your closing costs. It's our way of saying thank you to those who have served our country and community. If you are interested in a free quote please call or email me (909)255-8248 monique.perez@mwfinc.com

Jun 10th 2014
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John Schweer (johnschweer)
#9 ranked lender in Missouri - 163 contributions

First and foremost, thank you for your service........... and Yes you can get up to 100% financing on 417k, that being said you can go above that limit with a 25% investment for the amount above 417k..... IE lets say you found a home for 517k subtract the 417k VA county loan limit to get 100k your down payment would be 25% of 100k or 25k down for a home purchased at 517k.... I am a fellow veteran and have specialized in VA lending since 1998 feel free to contact me direct for a no obligation consultation... John Schweer 816-517-LOAN (5626)

Jun 10th 2014
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Sean Young (SeanYoung)
#2 ranked lender in Colorado - 1,112 contributions

A VA loan is one of the best loans you can get and your credit score of 697 is more than enough for any VA home loan. However, you will need to get a complete pre-approval to review your loan application and income to make sure you qualify before you start looking at property. You can go up to 100% of the max VA loan limit for any county. In Riverside County the max loan limit is $417,000. However, if your purchase price is over the $417,000 you just have to pay 25% of the difference between the $417,000 and the purchase price. Example: Purchase price $500,000, max VA loan limit is $417,000 with a $83,000 difference, you pay 25% of that amount or $20,750 as a down payment and you can finance the rest. All with no mortgage insurance, not a bad deal at all. Again, contact a local loan officer in Riverside and start the pre-approval process. If you need a great referral I know a great loan officer in Murrieta. Best wishes, Sean

Jun 10th 2014
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