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Why do lenders not like va loans?
Terrence Vanlue1 minute readLower Closing Costs Lenders generally charge underwriting, processing, and documentation fees on all of their loans, but VA borrowers cannot pay those fees and the lender or seller may be required to pay them on behalf of veterans. Once you move into the house, you will own a 100% funded property.
Is it hard to get a va loan?
Terrence Vanlue1 minute readIf you're eligible, it's pretty easy to qualify for VA loans, as there's no down payment required, no minimum credit score, and no upper limit on how much you can borrow relative to income, 4 days ago. Borrowers must, first and foremost, be eligible for VA home loans.
Why would a house not accept a va loan?
Terrence Vanlue0 minutes readVA loan inspectors look for certain problems with a home, such as wood rot or lack of floors, that need to be addressed before the sale can continue. Some sellers refuse VA loans because of that inspection, assuming this will complicate the sale.
What is minimum credit score for a va loan?
Terrence Vanlue2 minutes readWhile the VA itself doesn't set a minimum credit score required for a VA loan, most mortgage lenders will want to see a credit score higher than 620 FICO. Despite this VA flexibility, many individual lenders do impose a minimum credit rating requirement on VA loans.