Buying a home through the V.A. with bad credit ?
354644
How bad is your credit?  \nVA loans does not have a specific minimum credit requirement, but that does not mean that you can qualify regardless of your credit.  A VA loan does allow someone with less than stellar credit to qualify for a home at a rate comparable to someone with higher credit.  But credit is not the only thing to look at.  Are you putting money down?  What is your DTI(debt to income ratio)?  At the end of the day, you still have to qualify for a VA loan just like you would any other loan program.  Credit is just one aspect.  Let me know if you want more detailed information.
37883
Definately, thank you for your service to our country.  \n\nVA loans were very unique when they came out because they offered 100% financing to our vets, for those who qualify.  It was designed back in the days when 100% financing was not as accessable as it is now. You need to check with your local VA to see if you qualify for their certification, but your credit and financial situation still has to qualify for the loan if it is possible to obtain a refinance this way.\n\nMy name is Laura. I am a mortgage broker loan officer and will have to check with my lender to see if they can do a refinance if the home was not purchased with the VA benefits.  Please give me a call if you'd like me to research this: \n877-659-5626.\n\nYou may check our website out for more information about my team.  I love for a chance to help you.
24797
Yes, no and maybe.  Nicer places will not look favorably on your credit.  Others may require a cosignor or a larger deposit.  In any case be up front and honest about your situation and ask for help.  Anyplace that doesn't want some form of guarantee might not be a good place to live.  If you live at home, I would suggest you stay there and work on improving your credit.  It's a poor excuse to fail to pay your credit accounts when you have no living expenses.
145885
Start by getting a credit card-a gas card will even work. Just charge a tank of gas or so every month on it and pay it off as soon as you get the bill. This will start helping you to better establish credit. You may want to go ahead and talk to a real estate agent. You don't pay them. All of their fees are paid by the sellers of the house. They can go ahead and tell you what to do to build up your credit and get you pre-approved. Sellers deal more readily with pre-approved people because they don't have to wait as long to finalize the deal. My realtor helped me find a state program that gave me a $2500 down payment assistance loan that had to be paid back at $36 a  month for 7 years. I ended up getting into my house with only $300 out of my pocket if you can believe it!
150905
My best advice would be to start by opening a new credit line.  Paying your bills on time and saving as much as you can.  Credit can be a bummer when it comes to buying a home.  Good luck!
1022909
Your credit score is not the issue. You do however NEED to pay off all collections and write-offs to convince VA to invest in you.\n\nSometimes the money for these pay-offs can come from:\n\n1) the money you bring to closing; and\n2) a corresponding increase in the loan amount provisioned to clean up delinquent and unpaid items.\n\nHowever, remember, if you act crazy with a VA loan and don't pay your loan after six months, that bank won't mind foreclosing on your house, because VA insures that loan since you are/were in the military.\n\nVA will pay the loan, thus the bank will get their money. VA, in turn, will evict you since it will have title to the house, and sell the house to another deserving military person.
99586
Not exactly if you are renting. If you can prove that you have a regular source of income such as paystubs, etc, you should be good to go.\n\nBut if you are buying.. it will impact ur ability to seek loans
423599
Companies look at more than the score the amount of time it was open and current status of the account.  For example if you had a delinquent account gone to several collection agencies that looks worse if you have two or three delinquent with the originator.  \n\nAlso there are great federal programs for first time home buyers-and depending on your state-they may have assistance grants that never have to be paid back.  I know a few years ago FHA was the big program and also if you/significant other are Veteran Status there is VA, under some circumstances even if you are the offspring of a vet.  HUD homes are another option too(usually low cost).  Worst case scenario you get a higher interest rate, continue to pay down the debt and in a year or so re-fi for a lower rate-I had to do this with my 1st house.  And once you show lenders that you are capable of handling the debt then they flex a lot on the interest, BUT IF THE HIGH INTEREST IS GOING TO PUT YOU IN JEOPARDY OF BEING LATE OR MISSING PAYMENTS THEN DO NOT ATTEMPT.  You could wind up hurting your credit and chances of being financed again.  And think 100 times about filing for bankruptcy and getting a loan soon after lenders frown on that.
98978
No money down is not the problem. It is the bad credit. I have financed a lot of people with no money down. Seller credit buyer for re-occuring and non-reoccuring closing cost. Add that amount to your initial offer of the property. I am in the state of CA, therefore you need deposit when you make the offer, and money for inspections, unless you have the seller pay for all inspections. You need to fix the credit so that you can get a good interest rate.
415563
I have horrible credit myself and couldn't even get a credit card. However, I could buy a car at one of those buy here pay here places that does in house financing. I have the payment taken directly out of my checking account and I'm sure once I pay off my Cadillac, my credit will be somewhat ok. The interest rate sucks but it is well worth it to repair my credit. If I don't I will never be able to buy a home. Even try one of those rent a center places.
411317
go to your local bank and ask for info. a lot of places will give you a loan with bad credit. don't you ever watch television??
90159
If you have no credit, its almost like having bad credit. Nobody will want to finance you because you have no history. Your best bet would be to go for a HUD home. They will build a home for you or give you a standing home in good condition and they will work out a payment that meets your budget. It was designed for people in simaler postitions. There is also Section 8 houseing that you can look into. There are probably waiting lists for them. Other than that you could get a realitor to point you in the right direction.
179481
I have actually been where you are.  I had very poor credit for years (FICO score under 600).  Today, I own a home and have a couple of 0% interest rate credit cards with high limits.  I wrote a detailed credit-repair guideline called, "When Good People Have Bad Credit." \n\nI'm providing a link below.  Good luck to you!
1003685
There is no way  around the bad credit.   Sounds like you will have to establish  the credit again.   Good luck though.
213903
Your in luck, we are a direct lender and also broker.  I have done many loans for people that have bad credit.  The normal banks you walk into will turn you down for any reason they want. I have lenders that look at other factors besides your credit.  Contact me at www.xclusivefinancial.com
908646
Some credit is available to people with bad credit experience.\n\ngood luck !
22870
I can speak from experience here.  I do not have a very high score I think it is in the low 600's.  I think the main reason is that people are still able to get credit while having a score this low.  You may have to pay a higher interest rate but you can still get a car and a house.  I know I have a mortgage and I just refinanced for a slightly lower fixed rate at 4.5% interest.  I don't think that is too bad for someone with below average credit.  We all should care more about our credit. We just have champagne taste on a Boone's Farm budget.