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My husband is active army and we would like to acquire a VA home loan with usaa as our lender. My credit is not that good but my husbands may be somewhat ok. Will our credit determine whether or not we will be approved for a Home loan? We are not in any major debt and are financially stable as we both work full time in addition to BAH assistance.

2 REPLIES

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I hate to tell you this. Your not alone. People are being judge by banks, realtor (s) and landlords according by the numbers. Our credit score!
If an individual's score is less than 650? No one would want to waste time with that person unless, that person has at least 35-50% down payment.
I think the lenders should looked at each individual's employment status, annual income, references & most of all. Ability to pay on time. NOT ALWAYS BY THE NUMBERS SHOWING ON THE CREDIT SCORES.
they keep this up? Our economy will never go back up since it crashed in 2006. They need to remember, real estate was the major caused of our economy's collapsed. Give hard working Americans a second chance to start over! That is owning an American Dream to own a home.
I just hope the next president of our great nation will be for the people.
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Hi Pearly_Gates,

We would love to help you! You can send us a message here or call us at 1-800-531-USAA (8722) to talk to a mortgage specalist! In regards to your question, I talked to an expert here at usaa and this is what he had to say:

 

"If they need both incomes to qualify, both scores will be applicable. Credit scores are a factor but VA loans consider compensating factors like savings and debt to income ratio. They would need to complete an application to know for sure. "

 

We look forward to haring from you!