What Is the Minimum Credit Score for a VA Loan?

Drawing of cell phones showing different credit scores with their ratings

Many lenders require your credit score to be above a certain number before they’ll issue you a VA loan. And they’re allowed to do that.

But there isn’t a minimum credit score for VA loan qualification according to the VA’s guidelines, so Low VA Rates chooses not to require one. We can, and often do, work with veterans who have very low credit scores.

Good and Bad Credit Scores

To refresh your memory, the lowest possible credit score is 300, and the highest is 850. Lenders often rate scores like this:

  • <550: Bad
  • 550–649: Poor
  • 650–699: Fair
  • 700–749: Good
  • 750+: Excellent

We know that some veterans with low scores have just had financial trouble in the past, but they’re now able and willing to pay their debts. And some veterans just haven’t had a chance to build a credit history yet.

Because of these reasons, we’ve chosen to help them instead of just turning them away for a loan.

How to Improve Your Credit Score

Of course, we’re still aware of borrowers’ credit scores, and there’s a cost to a low score: you probably won’t be able to get the best interest rates, which leads to higher monthly payments.

Some borrowers choose to work on improving their credit score before taking out a mortgage—even if it takes a year or two. You’re going to pay off a house over many years, so it can benefit you to have lower payments over that whole period.

And we’ll definitely work with you any time you’d like to get a quote! And, if we find out your credit score doesn’t qualify you for the interest rate you’d want, we’ll work with you directly to help raise it, even if it means waiting a while before you can get a mortgage from us.

But, in the meantime, if you’re not quite ready to call in and talk with a loan officer, here are five tips that can help you start raising your score now:

  1. Never be late on debt payments
  2. Keep low or zero balances on credit cards
  3. Only get one new line of credit at a time
  4. Pay off debts as soon as possible, beginning with the one that has the highest interest rate
  5. Order your credit report once a year and fight any mistakes in it

One thing to note is that, even if you follow these pieces of advice exactly, you might not see an improvement to your credit score for several months. This is especially true for paying off a debt.

The reason for this delay is that it can sometimes take a few months for the credit bureaus to remove that debt from your credit report. But we promise, if you follow these steps, it will happen!

Even if you don’t have any kind of credit history, these five pieces of advice still apply, though in a slightly different way. Essentially what you’ll want to do is get a single credit card and follow these five guidelines in how you use that card.

Doing so will help you start building a positive credit history, and once you’ve developed good habits with one card, you could apply for another one, and so on, to keep that positive credit data growing.

How Low VA Rates Can Help Those with Low Credit Scores

We specialize in loans for veterans. If you talk with one of our loan specialists—some who are veterans like you—he or she will look at several factors in your background.

One of the first and most important is your honorable military service is first. The next important qualification is the stability of your income, which can be from a job, VA disability payments, or investments.

They’ll also help you add up all your expenses, including debt payments and the potential VA loan, to make sure you’ll have enough money left over at the end of each month. This is a VA guideline, which helps the VA loan program to be safer for you and for all veterans.

And, while they’ll also look at your credit score, we know that a high credit score doesn’t always guarantee that someone can handle a new mortgage because their situation may have changed.

We also know the opposite is true, so even if you have a low credit score, you can qualify for a good VA loan as long as you can show your willingness and ability to afford and pay for it.

So, whether you choose to improve your credit score first or you want to buy your home right away, Low VA Rates will be here to help.

Low VA Rates Sponsors the Largest Flag in U.S. History

Low VA Rates Sponsors the Largest Flying U.S. Flag

Utah Mortgage Company Invites the Community to Witness the Largest American Flag Flown


July 3, 2017


PLEASANT GROVE, UT—The largest American flag to be flown in the U.S. will hang across Grove Creek Canyon as part of an event called Follow the Flag. More than a quarter of an acre in size, the flag will fly from July 4 to July 10. Utah mortgage company Low VA Rates funded the making of the flag to be used for this local Independence Day event.

Follow the Flag is also the name of the non-profit organization that hosts the event. It was established in June 2015 when patriotic citizen Kyle Fox approached his friend Ron Nix about displaying a large American flag over a crevice in Grove Creek Canyon. Nix and Fox asked Colonial Flag, a flag store in Draper, UT to manufacture a 30-by-60-foot American flag. The duo got permission from the city of Pleasant Grove and the National Forest Service and on July 4, 2015, held an unveiling ceremony. Boy Scout Troops 1166 and 26 from the Utah National Parks Council, Timpanogos District, carried the flag up the mountain and took turns watching the flag from dusk until dawn. The flag was lit nightly for one week, using a 7K Xenon light, which could be seen from 50 miles away.

What started as an idea between two friends has grown into a local tradition. Thousands have stood under the flag, hands over their hearts, remembering the bravery of our Military.

Fox and Nix decided to make this year’s Follow the Flag even grander by flying the largest American flag, exactly 150-by-78 feet. Like its predecessor, it was made by employees at Colonial Flag.

Another treat this year is the special guest appearance of Gail Halvorsen, known as the “Candy Bomber” during World War II. He will join the Dawns Early Light Ceremony on July 4 at 8 a.m. The ceremony will include a performance by the Debra Bonner Gospel Choir and a 21 Gun Salute by the Utah Highway Patrol Honor Guard. The flag will be lit at 8 p.m. every night from July 4 to July 9. There will be a Flag Retirement Ceremony on July 10 at 8 p.m.

Other activities include the Battle Beneath the Flag Throw Down, Freedom Ride at Legends Motorcycles in Springville, UT, and a Run2Remember 5K race. Those who wish to participate in these three events must register at followtheflag.org. The website has times and dates for all Follow the Flag activities. Everything is free unless stated otherwise.

About Low VA Rates: Low VA Rates is a VA mortgage loan company located in Lindon, Utah. It has eleven branches across the U.S. it is licensed in 48 states. The organization has been around since 2006, but it became an independent company in 2013. In its life of four years, it has saved its customers over $7.3 million. It is one of the nation’s leading lenders for VA and conventional loans.

National Airborne Day

On August 16, 1940, the first official Army parachute jump took place. Before then, not much was thought about airborne warfare, but because of the tactics explored by aviation pioneers such as General William Mitchell and Major William Lee, paratroopers became vital in U.S. military operations.

pic 1 jumper

In Recognition of the bravery of airborne soldiers and the ingenuity of the developers of the parachute jumps, President George W. Bush designated August 16 as National Airborne Day. This year, we at Low VA Rates are commemorating the anniversary by sharing some aeronautical history and facts.

Aerial Trailblazers

Paratrooping capabilities wouldn’t be what they are today without the work of General William Mitchell, also known as the Father of the United States Air Force. After becoming the first American officer to fly over German lines during World War I, he recognized the importance of airborne combat and pushed for a bigger military presence in airborne combat. Although that goal was not accomplished during his lifetime, he laid the groundwork for a future generation of airborne soldiers to accomplish it.

Another “Father” was General William Lee, the Father of the American Airborne. During World War I, he noticed an increase in Hitler’s airborne troops and was determined to see the United States military legitimize paratrooper warfare.
When President Franklin D. Roosevelt realized the prevalence of airborne troops in Germany, he commissioned Lee to create the first paratroop platoon. Lee did so and became the first commander of the Army’s jump school at Fort
Benning, Georgia.

Lee’s platoon experimented with parachute jumping, and on August 16, 1940, the first official parachute jump took place.

Use in Combat

Although the first Army parachute exercise occurred in 1940, it wasn’t until November 1942 that the practice proved its worth in combat. Troops parachuted into Northern Africa during Operation Torch, landing behind enemy lines and helping secure enemy airfields.

This method continued to be used throughout World War II, contributing to the victory of Allied Forces in several important campaigns, including the Battle of the Bulge, the invasion of Southern France, and most notably the D-Day Invasion. General Lee’s platoon parachuted into Normandy shouting “Bill Lee!” as they made their descent since General Lee had recently suffered a heart attack and had to return home instead of flying in with his men.

Airborne forces are credited with shortening World War II and saving countless lives. They were also critical during the wars in Korea and Vietnam, Operation Desert Storm, and Operation Enduring Freedom.

Hazardous Work Environment

Today, paratroopers are among the Army’s elite. Extensively trained, they have to be ready to go at a moment’s notice and are often the first soldiers on the scene in either combat or humanitarian relief. It is estimated that the United States’ airborne forces are ready to go within 18 hours of their call to action.

Jumping from high altitudes is, of course, risky. Rapid ascents can lead to decompression sickness and lack of adequate pressure on the body can cause a condition called hypoxia. During landing, airborne soldiers are at a high risk of injury. While they are trained how to land safely, mitigating factors such as wind speed or drop zone terrain can make it difficult to execute that landing. The most common injuries are to the lower extremities, the lower back, and the head.

As a crucial line of defense, these men and women deserve every benefit the VA offers, and at Low VA Rates, we strive to ensure paratroopers and all veterans of the military get those benefits. Check out our site or call us today to see how we can help you.

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*Annual savings calculator based on 2015 monthly average savings extrapolated year-to-date.