Is it true that when you are 100% disabled that your credit score doesn't really matter when applying for a VA loan?

SrA David Freeman — Sat, 25 Jan 2020 18:27:27 -0500

Response by SGT Robert Pryor made Jan 25 at 2020 6:34 PM

SGT Robert Pryor — Sat, 25 Jan 2020 18:34:53 -0500

It matters. It's just that certain considerations are made. It depends on too many things to list, but your income may be tax free and lenders can use that information to bend some of the rules on credit worthiness. It can also serve as a negative if you have not been 100% for very long and some feel your condition may improve, eliminating that source of income.

Response by SSgt John Wise made Jan 25 at 2020 8:14 PM

SSgt John Wise — Sat, 25 Jan 2020 20:14:26 -0500

It definitely matters! As a 100% vet myself I can tell you it makes a difference; however, you will get other Benefits depending on your state when it comes to property taxes, you may qualify for DV plates based on certain conditions, no registration fees, etc.

Response by SSgt John Wise made Jan 25 at 2020 8:16 PM

SSgt John Wise — Sat, 25 Jan 2020 20:16:14 -0500

If you wish to discuss other possible benefits let’s connect and we can discuss more. If you wish to schedule a mentor meeting you may schedule a mentor meeting with me on Veterati.

Response by SPC Richard Zacke made Jan 25 at 2020 9:29 PM

SPC Richard Zacke — Sat, 25 Jan 2020 21:29:12 -0500

It depends on your 100% disability, if you are just totally disabled, your injury may get better and your disability may be reduced... if your TDIU ( totally & permantly disabled due to individuale unemployability ) you stand a much better chance of qualifing in your price range. You won't have to pay property tax's or loan origination fee's but with that the bank likes to see that you have had your award for a respectable amount of time...proveing that you are a reliable risk. Don't forget your COE (certificate of eligability) when applying to the bank or credit union. Good luck and GOD speed.

Response by PO2 Mike Vignapiano made Aug 14 at 2021 1:03 PM

PO2 Mike Vignapiano — Sat, 14 Aug 2021 13:03:03 -0400

That is not true. Your FICO score always matters. But it’s always less harsh with a VA loan than others, not by much. Depends on the lender.