Can I get a VA loan with no credit score?

In most areas, the FICO Credit Score must be a least 620. However, there are VA loans for some borrowers who have no credit score or even a score less than 620. If you are without credit, qualification is determined based on past payment history of rent, car insurance and other regular monthly expenses.Click to see full answer. Similarly, can you get a VA loan with no credit? VA-Guaranteed Loans Have No Minimum Credit Score Using a VA home loan has two major benefits over conventional — and even FHA — loans, specifically due to the fact that the loans are backed by the VA, so they’re lower risk for lenders.Additionally, can you get a VA home loan with a 500 credit score? Most mortgage companies state you must have at least a 620-660 credit score and high income to qualify for a VA loan. You can get a VA loan with a 500 credit score. If you happen to have enough residual income there is a good chance you can qualify up to and maybe above a 60% D/I ratio. Consequently, what is the required credit score for a VA loan? The VA doesn’t set a minimum credit score requirement for the VA loan, but also does not make the loan. Lenders who do make the loans will typically have a credit score benchmark. That benchmark varies by lender, but a 620 FICO score is a common credit score requirement for a VA loan.Can I get a VA loan with a 600 credit score?While the Veterans Affairs office does not require a high credit score to qualify for a VA mortgage, generally, a lower credit score like 600, 605 or even 609, will not give you very many options. This doesn’t mean you will not be approved. It just means that your loan lender will look at additional factors.