Are there any reputable VA Lenders who work with poor/bad credit?

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My husband has bad credit from prior mistakes which haven’t cleared from his record yet. We have had a few delinquencies with payments in the past months but are now up to speed and have most our debt paid off (except for a car loan and a few smaller credit cards). I’m looking for a reputable company with plenty of experience but there are so many online VA mortgage companies that I don’t want to be fooled! Who did you go through and how professional was it for you?

  1. Reply
    Fort Sill Army Wife
    February 6, 2011 at 11:30 pm

    We went through a local mortgage company that specialized in VA loans, but my husbands score was 687, im not sure how bad your credit is, but with more then one delinquency in the past months span will hurt you. We had to have 3 months of house payments (2500) in our bank for over 90 days when they approved us. We just got our house in Jan. 2009. The VA doesnt really go by just a credit score however it is still very important, but they also go on your payment history and how many judgements and such you have your report.

  2. Reply
    Larry H
    February 6, 2011 at 11:30 pm

    As a Vet and past mortgage loan officer, It is very easy to obtain a VA loan. Your best bet is to talk to a local bank/lender. You will need to supply them with letters of explanation and verifications, but it is well worth it. US Bank and Wells Fargo are OK to work with. I went to my local VSO (veterans services officer) and they gave me a lot of incredible advice. The VA loan is guaranteed by the Federal Government and lenders get points for writing them.

    Make the call and you will find them (VSO) very helpful.

    Good luck!!!!

  3. Reply
    February 6, 2011 at 11:50 pm

    VA home loans are a unique way of extending support to the US war veterans, who committed their lives in safeguarding the interests of the country.

    No prepayment penalties and long amortization terms are another advantage of these loans. Houses provided under VA housing loan programs are duly inspected at the time of construction and require a warranty from the builder.

  4. Reply
    February 7, 2011 at 12:11 am

    I just got a manual underwrite done for a VA client in Oregon.

    You can check out this site for more info and help.

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