Low Credit Scores VA Loans Still Available ZERO DOWN 500 Minimum Credit

"By: Bob Hale Realty"

VA Loan Benefits:

Call And Get Pre Qualified For FREE Today  706 840-4663

  • 100% financing Cash out and Purchase
  • 500 Minimum Credit Score
  • VA funding fees can be financed with the loan (up to 3.3%)
  • No private mortgage insurance (PMI)
  • No pre-payment penalty
  • VA regulation limits closing costs
  • Sellers can pay all closing costs

In 1944, the Servicemen’s Readjustment Act was established in to provide veterans and their surviving spouses with a number of benefits. Among these benefits was the VA loan program. VA loans allow veterans and military to purchase homes with 100% financing, no mortgage insurance, and limited closing costs.

A loan, you need to meet eligibility requirements. Most veterans, military, and spouses of deceased military members will be eligible. Veterans can apply without any delay if minimum active duty service requirements have been met. Active duty service members on the other hand will need to complete a minimum of 6 months of service first. National Guard and reservists will need to wait 6 years before the benefit kicks in. If they are called to active duty at any point, they will become eligible after only 181 days.Anyone who intends to apply for a VA loan will need to obtain their Certificate of Eligibility. It is important to note that the COE only proves to your lender that you have met the minimum service requirements. It is not a guarantee that you will be approved for a loan.