Credit VA Loans Insider

  • How Compensating Factors Can Boost Your Chances of Securing a VA Home Loan

    How Compensating Factors Can Boost Your Chances of Securing a VA Home Loan

    VA lenders take a long, hard look at a prospective borrower’s credit, debt and income when evaluating a loan application. There isn’t a credit score requirement to participate in the VA loan program. But many lenders want to see a score of at least 620 in the current climate before moving forward. On top of that, prospective borrowers have to meet VA standards regarding their debt-to-income ratio and th…

  • VA Loans a Lifeline for Consumers Hit by Credit Crunch

    VA Loans a Lifeline for Consumers Hit by Credit Crunch

    Consumer credit scores have taken a beating in the last three years. Close to 21 million Americans saw their credit score plummet more than 50 points during the housing market and economic meltdown of 2008-09, according to FICO, which produces a key score for the lending industry. In all, about 50 million consumers lost more than 20 points from their score. Hits to your credit can make it secure a home loa…