If you have spoken with a VA lender and been denied for a VA loan, chances are it was due to not meeting the minimum credit score. VA lenders will sometimes have minimum credit score requirements and in the event that you don’t meet the minimum, the lender cannot offer you a VA loan.
Have you been denied a VA loan because of a low credit score?
All is not lost. Lenders will have different credit guidelines many times – and just because one lender says your credit score may not be high enough doesn’t mean all VA lenders will say that.
Credit Repair: What You Want To Know
If you have had a foreclosure in the past or a short sale – chances are that you have less-than-perfect-credit. If you have been denied for a VA loan and it was due to a low credit score, one of the options that you can do is work with a credit repair company to help bring your score up.
Credit repair is not new – and there are plenty of companies who will offer to help you (for a fee of course) repair your credit and get into a VA loan after going through their credit repair process.
Each credit repair company will have their own fee schedule and process of helping you repair your credit – as well as each will have varying results. As with everything, working with the right credit repair company can make all the difference as to how long it takes to repair your credit and get you into the VA loan of your choice.
A few simple things you can look for when choosing a credit repair company include seeing if they belong to the BBB, looking for customer testimonials and finding out how long they have been in business.
In the event that you don’t know where to start to find a good credit repair company, you can ask your VA loan officer to provide a good reference – they should have a good credit repair company that they work with for people who are in your situation.
Start by talking with a VA loan officer at a VA lender today!