Recent Questions from Facebook Users:
Q. I’m trying to get a home here soon but my credit is an issue- what should i do?
A. That’s a good question. We need to get you a pre approval letter for the VA loan so that when you find a property the seller will consider your offer. Have you filled out the short form on www.securityamericamortgage.com ? It would be helpful to know where you stand on credit. Some VA loans can get approved as low as 600, but that’s not the norm. It gets easier with at least 620, more easy at 640 and so on.
Q. Hello, if I’m under a chapter 13 and lost my home that was a VA mortgage , is it possible to get another VA mortgage again?
A. Yes, absolutely. More info about that is forthcoming.
2 years from discharge of a BK you can apply for a VA loan. The VA guidelines are also more focused on the most recent year credit history. We’ve done many VA home loans for Veterans that have had to go through BK. Don’t be discouraged and focus on your credit going forward.
-I just talked to the Underwriter for further clarification. 2 years from the filing date. When you have one year of on time payments to the Trustee then you’ll be in good shape to revisit the approval process.
Therefore with if currently in Ch13 it requires trustee and judge approval
Ch 13 discharge no additional conditions apply as far as the BK, however getting your credit score above 600 is very important. Although it’s possible to get approval at 600 it becomes easier if the score is higher. 640-700 will help but we will always start the process with you. Feel free to fill out the form on our website at www.securityamericamortgage.com so that we can continue guiding you down the right path.