Yes you must qualify both from credit and income for the VA loan. Its a great loan and if you want to see what you qualify for feel free to give me a call or email. 785-273-5004 or kdwall@kdwallstreet.com
Hi Wildixon6782,VA does not have a minimum credit score requirement so it's up to individual lenders. Some lenders, like me, will go below a 580 (case by case) & others will only go down to a 620 score.Income is a little more difficult. The basic VA guidelines say if your debt to income ratio is over 41% then you need to exceed the VA minimum residual income requirement by 20%. I've had Veteran get approved with debt ratios as high as 74% but that is rare.| John Burke | Senior Mortgage Banker | Lending in ALL 50 states |Great Plains Bank | jburke@gpbankTX.net | (877)228-9069 | NMLS# 787231 |
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