I am a 100% disabled vet with 550 credit. Our monthly income is $5,500. Am I able to still get a loan? by ddcampus387231 from Marion, Indiana. Jul 20th 2017
First of all, from the bottom of my heart, thank you for your service! Unfortunately, I am not able to do a VA loan with that score, but there may be other lenders who can. My suggestion is to contact a mortgage lender (like myself) who really knows the VA program - not all lenders do because the guidelines are very different than other programs. I'm curious to see what is on your credit report that is holding you back. It may just take some work on your part to get your scores up, but would be very worthwhile in the end. If you would like to contact me, I can be reached at 219-695-0369. Best of luck and thanks again for your service!
Check my site out: www.phmc.com/coreyvandenberg
Here at RPM, we have a high admiration for our military veterans, especially those who have incurred disabilities as a result of their service, so on behalf of RPM mortgage , Thank you for your service and sacrifice. The short answer is yes.. there are lenders out there that will allow you to finance a home with a 550.. but realistically, lower credit scores usually mean much more strict guidelines.. and few that apply actually get approved.. in my many years of experience, your far better off getting with a local mortgage pro and let them look at what's actually on the credit report that is driving your scores so low.. If there's something that can be done to get your mid score above 600, then you will have all sorts of loan options available to you.. I'm a preferred Lender with Arizona and California being my primary markets. 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 NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893
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