Question:
I am a 100% disabled veteran with a 630 credit score that can't seem to buy a house. Are there any veteran friendly companies that you know of that can help me in my home buying process?
Jim's Reply:
No. While there are plenty who advertise as vet friendly, it all comes back to the perception of your ability to repay the loan over the long term. A 630 FICO is considered as "fair" but it's below the average score and even with a VA loan note you may not find a lender who will service you. It sort of depends on why your score is that low. If you have write-offs or pending collection efforts, you're probably out of luck. The best thing you can do is to buff and polish that credit score over the next 2 years and then consider home ownership. I suggest 2 years because that would prove to everyone that you're credit worthy. Then find a lender who seems to understand the VA loan process and go for it.