Plan to use a VA for a new home
My girlfriend and I plan to buy our first home using a VA home loan. I have fair credit while my girlfriend has no credit history at all. We can afford a 5% down payment on a $250k home. What are our chances to get approved? by mgreen153 from Riverside, California. Aug 11th 2022
John Burke (jburke)
#27 ranked lender in Texas - 321 contributions
Depends on your credit score, history and income. You could have a 620+ score and still not be eligible based on your credit history. I specialize in VA financing. | John Burke | Senior Mortgage Banker | Lending in ALL 50 states |Stride Bank | jburke@stridebank.com | (877)228-9069 | NMLS# 787231 |
Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,848 contributions
VA has a goofy rule about a co-borrower must be a spouse... Unless you are both VA eligible, your girlfriend can't be on the loan... But wait, yes she can, but now you'll need a down payment that is basically 12.5% down. Reach out to a VA lender in your area. I lend for VA loans in MN, WI, IA ND, and SD. Find me at VAMortgageMN.com - Cambria Mortgage, NMLS 274132
Ask our community a question.
Get an answer
Related Questions
