Who Qualifies For VA Loans?
Jesus Ojeda Mortgage Advisor
Who Qualifies For VA Loans?
There are 3 main types of VA home loans, each one with different qualifications.
Veterans who meet eligibility requirements may be eligible for VA home loan benefits, which offer 100% financing and no down payment. Veterans with service-connected disabilities may qualify for VA mortgage benefits. VA loans offer the following features: -100% financing -No down-payment requirement -Rates are based on the type of loan and the borrower’s credit score
When it comes to the actual number, anything less than a 670 FICO® Score is considered “bad” or “subprime,” according to Experian™, one of the three main credit bureaus. More specifically, a fair score is 580 – 669 while a poor score is 300 – 579. The thing about having bad credit is it’s not the same as someone else’s bad credit.
Is it time to consider refinancing your home mortgage?
Buying a house is a long-term investment because you have to pay off the mortgage. And as a result, you not only get a place to live, but also an asset that can increase in value over time.