What are the specific requirements of VA loan?

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I look on the VA Web site and said that contact with a mortgage broker, but I do not want a lot of people running something to my credit. The credit score, cash advance, bankruptcy proceedings or Seizures, etc. ..

2 Comments
  1. Reply
    mazziatplay
    January 27, 2011 at 9:52 pm

    Bankrupties must have been discharged for a minimum of 2 years and credit must have been reestablished and maintained in excellent condition.

    No down payment required.

    Vis not score driven although credit history is a consideration.

  2. Reply
    Jay V
    January 27, 2011 at 10:20 pm

    I thnk your credits score has to be above 550 , you have to have a job , and if you didnt have a job for a while they want a written statement why , also if you rented , they want 6 months of check statements from your previous landlord . Also you have to have someone inspect the house from the va and there very very very strict . One other thing thats rough with the va is they make who ever your buying from pay most of the closing costs which is usally about 10 -20 thousand . Most people just in general dont want to pay or even deal with the va , from my experience , and they do run your credit alot which kinda screws you . If you can , try to do it another way . Through a bank , or save money for a down payment , so you wont have pmi insurance . Fk the Va loan , its screwed me , every time you think your done they pull something else out of the azz and screw you .

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