If you want to qualify for a mortgage, AND actually be able to hang onto your house, you need:Credit scores are not a major factor in a VA mortgage loan approval. You should attempt to get the very best credit score possible as it would be an indicator of how you pay your monthly debts.
There is no one that would be able to tell you your interest rate even if we knew your credit score as there are other factors that would go into your interest rate.
I don't know when you plan to purchase your house, however, it would be to your benefit to contact a local mortgage company that does VA mortgage loans, apply for a VA mortgage loan pre-approval. In doing this the mortgage company would obtain a credit report with your exact scores. If you are qualified then you would be issued a pre-approval letter, indicating the amount of house you are qualified to purchase, the interest rate and several other things you would find of interest to you.
Your pre-approval would normally be good for approximately 90 days, with the possibility of an
additional 90 days. You might not use it at all.
If you are not qualified your loan officer would be able to tell you the necessary things you would need to do to become qualified. They might even have a referral to a company that might assist you.
Either way you would know where you stand in obtaining a VA mortgage loan.
Getting a VA loan would put you in a position that would not require a down payment on your part. Also you might ask the seller to pay all closing cost. This is called a VA no no. You would be required to pay recurring closing cost those things that you would have to pay each year such as county taxes and insurance.
Make sure you inquire of all your rights and benefits of obtaining your VA mortgage loan. The more information you have concerning your rights as a veteran, you would make more intelligent decisions.
I hope this has been of some benefit to you, good luck.
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