I have a 610 and 629 on Credit Karma would I have a high enough credit score to get a VA loan?

There will be a different score more than likely when you sit down with a mortgage professional. There are several algorithms that different industries use. The one the free credit services usually shows a higher score than the mortgage industry one. If you come back with those scores there is going to be more needed to figure out if you qualify. What is your residual income what do you have for compensating factors, these are just a couple of them.

When you get a "Free Credit Score" they're typically higher than your actual scores, so a mortgage company has to run your credit to see the actual scores.. Most lenders have minimum credit score requirements.. some say 660 or above.. others say 620, and a hand full will go down to 600, but regardless, it takes so much more than an acceptable credit score to qualify.. Credit deficiencies, judgement's, BK's, Short sales, etc.. you could have a 750 credit score, yet with one of these deficiencies, you still might be denied.. For this reason, if you sincere about wanting to purchase a new home using VA financing, then I suggest you contact a LOCAL mortgage broker and apply with them. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and fees than most of the larger lenders.. 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 NMLS# 226347

Derick Condron said it right. Credit scores tend to be different depending on what industry is pulling the credit. Your credit score pulls from Credit Karma may differ from what the mortgage industry generally pulls up. I think you have a good possibility of meeting the minimum fico score requirement for a V A loan. for us that is 600 FICO, and we take the middle of three scores from the 3 major credit bureaus. I do highly recommend you consult with a Broker/mortgage consultant licensed in Oklahoma. They likely would be delighted to qualify you and assist you in improving your scores if required. Remember we all are happy to qualify borrowers and we may only actually do loans for a percentage of them. You should feel free to compare lenders to find the right one for you.

As others have said, that may be higher than the score a lender would receive. Recommend you pick an experienced mortgage lender and let them work with you. As long as your actual score is over 620 you should have options as long as all the other requirements for approval are also in place. There are very few lenders that offer lower than 600-620 for a VA mortgage. If you don't currently meet the minimum many will provide guidance to help you get where needed.

Cecil, depending on it if you are looking to purchase or refinance - there are programs that go as low as 580 on VA Loans. But it does take more than just a credit score to qualify for a loan, so we would need to discuss your income and other factors that will play into the decision making process. Thank you,Justin Murray / JMurray@WintrustMortgage.com (312)256-4065

Free credit reports like Credit Karma use the "Advantage Score" model. Mortgage lenders do not. On average, the scores we see tend to be about 20-points lower than you will get. With that said, very few lenders will even consider a VA loan below a 620 middle credit score, and even those that say they will... whatever is causing your score to be that low will generally get you denied anyway. I strongly suggest working on improving credit, and trying for a loan once you fix your bad credit. For Loans in MN, WI, and SD, visit www.FirstTimeHomeBuyer-MN.com

Most VA lender can lend on a 600 credit score there are some brokers that will lend on a 580. I would contact a local mortgage banker or broker. I hope this helps.Jesse Stroup | Mortgage Banker | California NMLS# 6229 | 510-704-3445 Please contact me for more information.