As a veteran, what is the minimum credit score and financial history that you need to have in order to be qualified to use a zero down payment VA loan?

Hi, I’m Chris Pesek with the Dripping Springs Home Team. Questions like this are the exact reason that Chris Motal of Palm Lending and I decided to put this video series together for you.

So, what is the minimum credit score and financial requirements for you to get a VA loan? Currently (September 2020), the minimum score that you need to purchase a home with a VA loan is 640. That does change from time to time so double check with us to make sure, but, right now, that is the minimum score.

Another hurdle you’re gonna have to make sure that you clear is the VA will not allow for late pays in the last 12 months. Things like credit card bills, vehicle payments, student loan payments, those things all have to be clean for the last 12 months.

And, the last hurdle is that you can have no late mortgage or rental payments in the last 12 months at all.

As long as you clear those three hurdles, you should be fine to use your VA loan. Again, if there’s any other questions that you have, take a look at the rest of the series, make sure that we haven’t already done a video. And if we haven’t, feel free to reach out either to Chris Motal or myself. We’d love to help you out.

Again, thank you so much for your service. We’ll talk to you soon.