VA home loans down to a 500 credit score and up to 65% debt to income ratios.

A VA home loan is either for a veteran, a soldier currently enlisted or a spouse of a deceased veteran.  These loans allow for no down payment & no monthly mortgage insurance. These are fantastic loans if you are a veteran. A lot of veterans qualify for a VA loan and do not realize it.

Most mortgage companies state you must have at least a 620-660 credit score and high income to qualify for a VA loan. These companies again are using overlays. You can get a VA loan with a 500 credit score. If you happen to have enough residual income there is a good chance you can qualify up to a 65% D/I ratio. In layman’s terms you can have lower income and still qualify for a VA loan. When your credit score is below a 620 usually you have to do a manual underwrite, which 99% of the mortgage companies do not do, therefore you are turned down. We do both manual & automated underwriting on VA loans. If you have any questions please call or text me 224-420-9990. You can also email me at [email protected]. Barclay Butler Financial Inc. #Vamortgage, #500creditscore, #VAmanualunderwrite.