Can I get a VA Loan with a 616 median credit score and 0% down?

Most lenders, including my bank require a 620 middle score. If you have any revolving debt (credit cards), check to see if the balance is 50% or higher than the limit. This is usually the best and quickest way to increase a score. You are close enough to where that would most likely put you over the 620 score to qualify. Even though you are paying the credit cards on time, a balance to limit ratio may be keeping your scores down. I hope this helps and best of luck with your loan.

Yes you can get that loan up to $417,000. But I recommend that you try raise your credit score a little bit in order to qualify for a better rate, best wishes.

Technically yes. Realistically, no. Work on improving your credit score just a little bit. Make over 640 your target. Credit score alone does not a loan approval make. But credit score is usually the biggest blocker on VA loans - because with zero down payment and seller paid closing costs - you don;t need any money. www.Minneapolis-Mortgage.net

Possibly.. Understand that VA does not lend money, they only insure loans against default.. so it's really up to the lenders.. and although there are some out there that will lend to borrowers with a 616 score, you need to understand that it takes so much more than a credit score to get a mortgage.. the real question is WHY.. why is your score so low.. collections, judgments, unpaid student loans, foreclosure, BK, etc.. your credit score along with a hundred other things are considered to determine one's eligibility.. I've had borrowers with 750 credit scores get denied because of a profile deficiency, so unless we can see your complete profile, it's anyone's guess.. 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 WilliamAcres.com

You can qualify for a VA loan with that score. However, you're score if so close to a 620 which would qualify you for a better rate. I would try improving your score first before trying to apply for a loan. Improving your credit when you're that close usually takes between 4-6 weeks, depending on your situation. Best of luck with your loan. Feel free to contact me or my team for more help. We specialize in helping people in these situations. .

Lenders typically want to see a credit score of at least 620 for approval. Try to work on boosting your score by paying off any outstanding debts you have prior to applying.

It shouldn't take much to bring your score up to 620, contact me and I'll help and can handle your loan for you: pdumouchel@primelending.com or 843-619-6025 If you prefer, I also have a blog on this site with some general suggestions.

While the VA doesnt have a minimum fico score, it is the lenders that require i.e. a 620 mid score. Look at ALL of your outstanding debt obligations, and bring them ALL down together! I've had people with credit cards with a $300 limit, and $298 balance on them. Items like this respond favorably to paying them down to 30% of the card's limit, or to $90 in this case. Another thing that we look for is 3 active tradelines, so if you do not have them - then I would recommend making a few calls to see who has a Secured CD and CD installment. Click on my pofile to the left, then click on my email address and we can chat. Thanks...Jeff