I was contacted by this company and given the best salesman pitch ever. Once asking what are minimum credit required for a VA loan, I was told that they've been known to Veterans financed at 580 and 590 Fico scores. Now given the fact that I've been paying rent at $1150 a month for 12 months, paid off two big loans totaling around $7k to $8k. This left me with only a few items left on my report - a truck loan at $895 a month and a car loan at $556 a month.
I had planned on paying off my Capital One card as well as a loan that was $215 a month and was going to pay off all additional small things on my report. Again this would leave me with the car and truck totaling $1451.00 a month in bills. Yet with a $4600 a month income and VA loans allowing 41% debt to income ratio, with my income this allowed $1879.85. As you can see, I well under that, and I only received a VA qualification for a $105k. Very sad to say the least.
Don't waste your time. I recommend you contact Veterans First Mortgage; they do understand Veterans and will give you a fare more reasonable qualification.
Bottom Line: No, I would not recommend this to a friend
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