Eligibility may be met by meeting one or more of the following requirements:
- Served 90 consecutive days of active service during wartime (Or)
- Served 181 days of active service during peacetime(Or)
- You have 6 years of service in the National Guard or Reserves (Or)
- You are the spouse of a service member who has died in the line of duty or as a result of a service-related disability
- If none of the above apply to you, you still may be eligible! Give us a call to learn more
The VA doesn’t set a minimum credit score to qualify for a loan. But VA mortgage lenders can set their own minimum standards for FICO credit scores, which are typically in the low- to mid-600s.
The average FICO score of VA purchase borrowers in 2019 ranged from 706 to 713, depending on the month, according to mortgage data provider Ellie Mae. The average FICO score of VA refinance borrowers in 2019 ranged from 690 to 714.
Lenders will also look at your credit report, particularly your history of making timely payments.
If you have any questions about this, please let our VA specialist Frank know as we can discuss your options together.