VA loan credit scores do not have to be perfect to successfully qualify for a VA home loan in California.  But there are certain VA loan requirements for credit scores that has to be met.  As a general rule, you will need your VA loan credit score to be over 620 to be able to get a VA home loan with a good interest rate.

When you apply for a VA loan the loan officer will run a tri-merge credit report.  This is a credit report where all the credit data from all three credit bureaus (Equifax, Experian, Trans Union) is merged together into one credit report, and you get three scores, one from each bureau.  VA loan requirements take the middle of the three credit scores as the score that is used for your VA loan approval.  So you want that score to be 620 at a minimum, preferably 640.

Now the title of my post is how to quickly boost your VA loan credit score.  The main way to accomplish this is something called a credit “Rapid Rescore”.  We have a special tool that we use with the credit bureaus that allows us to quickly report any corrections or changes done to you credit in 2-5 days and pull a new score.  Without this tool, it can take 45+ days for a correction or change to your credit to report to the bureaus naturally.  If your VA loan credit score is not where it needs to be, we will go over your credit report with you and counsel you on what you can do to quickly boost your score to where it needs to be to qualify for a VA home loan.  Here are the two most common items that can be “Rapid Rescored” to boost your VA loan credit score:

• Maxed out credit cards: if you have any credit cards where the current balance is >30% of your credit limit, you can pay those cards down to 30% of the credit limit and dramatically increase your score in 2-5 days with a Rapid Rescore
• Mistakes on your credit: almost every credit report I have ever looked at has mistakes.  Go through your credit report with fine tooth comb and if anything is a mistake, contact the creditor and get it in writing it’s a mistake and we can remove that item in 2-5 days and this can boost your VA loan credit score dramatically.

So I hope this helps you understand a little bit about quickly boosting your VA loan credit score.  Don’t hesitate to email me at homeloan8@gmail.com or call at 858-922-7899 if you need a VA home loan in California and would like to discuss.

Best Regards,

Rob Chomentowski

858-922-7899, homeloan8@gmail.com

Sr. Loan Officer (and VA specialist)

How To Quickly Boost Your VA Loan Credit Score in California is a post from: VA Home Loans Call Rob 858-922-7899

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