What Is The Minimum VA Loan Credit Score?

A VA loan is a special mortgage option available to qualifying service members, veterans and surviving spouses of those who passed in the line of duty or as a result of a service-connected injury. It's a thank you to qualifying service personnel and their families for serving their country.

To qualify for a VA loan, clients must have a certificate of eligibility from the VA. In order to get this, the biggest requirement is that you have to meet minimum service time requirements. Surviving spouses and those who were discharged as a result of injury are exempt from service time minimums.

If you have the service time and proper paperwork, but you haven’t yet obtained your certificate of eligibility, Rocket Mortgage can help you secure it.

VA loans come with several benefits. There’s generally no down payment required and it’s the only mortgage offered through one of the major investors that allows you to convert 100% of your equity into cash. Additionally, in most cases, there’s no loan limit associated with VA loans. They also have some of the most favorable interest rates out there.

The VA doesn’t actually fund loans itself, but it does pay lenders back up to 25% of the loan amount if you go into mortgage default. Because the VA is taking on some of the risk, lenders can offer better interest rates while providing more flexibility on credit scores and other qualifications.