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Is There a Credit Score Requirement for a VA Loan?

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Keeping track of your finances and getting in the habit of paying bills on time can set you up for a good future. These simple tasks can really effect your credit score and ultimately your loan eligibility.

Your credit score is important when applying for a VA home loan. A credit score is basically the numerical representation of your credit history and creditworthiness. Credit scores are used to determine two things when it comes to VA loans:

  1. What your interest rate is going to be on your new loan
  2. Your eligibility for the new VA home loan, meaning your approval or denial

The minimum credit score requirement will vary depending on which lender you choose to get your VA loan through.

VA Loan Spot’s Requirement

At VA Loan Spot, we use three credit scores collected from all three of the major credit bureaus, Equifax, TransUnion and Experian.  From those three credit scores, we choose your middle score to determine your qualification. For example, if we pull a 530, 540 and 560, we will use the 540 credit score.

The minimum credit score we approve of is a 530. If your middle score ends up being a 530 or higher, you’re going to have a chance at approval with VA Loan Spot. If you do not meet this requirement, we do welcome explanations or stories behind your credit score. We understand life throws unexpected things at us, and if your circumstance is justified, we will still approve you.

Those With Lower Scores

Those with lower scores should not give up their dreams for homeownership with a VA home loan. If your credit score is in the range of 530 to 620, we’ll look at your credit history in the last 12 months, and ask you to explain why you happen to be in the lower range. If it was due to extenuating causes, we’re going to approve you for a new home loan.

If you still fall too short of our credit score bench, there are ways to higher your credit score. Credit is not static, rather it is always changing. Paying off late payments, remembering to pay bills on time and keeping track of credit card balances are all steps you can take to improve your credit score for the future.

Additional Eligibility Factors

There are more items to look for on your credit report in addition to your credit score. Derogatory credit items, or late payments, and common errors on the report itself are some examples. These factors will also play a role in determining your eligibility for a VA home loan. More information about these factors can be found in our blog, “What Should I Look for in My Credit Report Before Applying?

The process of approval for a VA home loan is simple with the help of our experts at VA Loan Spot. Call us at a time most convenient for you, and we can answer any of your questions concerning our credit score requirements and eligibility process.

Get the VA home loan you deserve with VA Loan Spot.


Bobby Atkisson

Bobby Atkisson

Bobby Atkisson is a seasoned mortgage professional who provides high quality financial services to military members and veterans. With over 14 years experience in the lending and financial industry, his mission is to provide high quality mortgage programs with the most competitive interest rates. For expert advice and guidance on VA Home Loans and Refinance, contact Bobby today at 800-537-2050.