What Credit Score Do I Need to Get a Reasonably Priced House With a VA Loan?

what credit score do i need for a va loan

With a VA-guaranteed mortgage, an eligible veteran's out-of-pocket costs can be very low.


One of the benefits to a VA-insured mortgage is that it's a true no-money-down home loan. Also, the types and kinds of closing costs that can be charged by a lender are tightly regulated. In addition, there's no private mortgage insurance (PMI) required, which is a plus. Also, sellers can contribute up to 4 percent to buyers to assist with what closing costs there are. Lastly, the VA funding fee can be financed within the loan too.

Basic Entitlement

While the VA itself isn't a lender, it guarantees the first $36,000 of any loan. That $36,000 is considered a veteran's basic entitlement. It's then multiplied by four to arrive at the standard VA loan limit of $144,000. There's also a county-by-county loan limit that's usually higher. For example,

San Francisco's is $962,500. An additional entitlement of 25 percent of that amount applies for loans over the standard limit. Lenders take that entitlement and multiply it as well.

Borrower Credit

Debt-to-Income Ratio

Trending in Your Area

What Is the Option Period on a Real Estate.

The option period on a real estate contract varies.

  • Can a Tenant Not Allow a Real Estate Agent.

    A tenant can not allow a real estate agent inside the.

  • Differences Between General & Special Real.

    General and special real estate agents each target.

    How to Check if Anyone Has Had Problems With.

    You can check to see if anyone has had problems with a.

    Source: homeguides.sfgate.com

    Category: Credit

    Similar articles: