Does the VA require a minimum credit score for the VA streamline refinance program?

No.

But that doesn’t mean that lenders don’t.

As you know, the VA doesn’t actually lend you the money to buy a home – they only insure your loan. The money that is your mortgage comes from approved FHA/VA lenders who work with the VA to insure your loan in the event that you should default.

So even though the VA doesn’t require a minimum credit score, over the last year, many lenders have started requiring a minimum credit score for all VA streamline refinances.

Each lender is different – some require a 620, some a 580, some a 640 – and to make it even more confusing, lenders will change their guideline requirements all the time.

So if you have spoken to a loan officer about the VA streamline program and he has told you that you don’t qualify because your credit score doesn’t meet the minimum, the good news is that if you ask another loan officer who works at another lender, you may get a different answer – and hence, qualify.

So be sure to shop around!

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and much, much more.

Please contact us directly with any questions that you may have about mortgages and we will work hard to provide the right answers!