2. More lenient loan requirements
The required credit score for a VA loan can be lower than for a conventional loan—around 620 for a VA loan compared with a range of 650 to 700 for most conventional loans.
In addition, the required debt-to-income ratio for VA loans is often more flexible than for conventional mortgages.
“It allows someone with less-than-perfect credit and some debt to still be able to qualify for a loan,” Dinsmore says.
No comments:
Post a Comment