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What Credit Score Do I Need to Get a Reasonably Priced House With a VA Loan?

what credit score do i need for a va loan

With a VA-guaranteed mortgage, an eligible veteran's out-of-pocket costs can be very low.


One of the benefits to a VA-insured mortgage is that it's a true no-money-down home loan. Also, the types and kinds of closing costs that can be charged by a lender are tightly regulated. In addition, there's no private mortgage insurance (PMI) required, which is a plus. Also, sellers can contribute up to 4 percent to buyers to assist with what closing costs there are. Lastly, the VA funding fee can be financed within the loan too.

Basic Entitlement

While the VA itself isn't a lender, it guarantees the first $36,000 of any loan. That $36,000 is considered a veteran's basic entitlement. It's then multiplied by four to arrive at the standard VA loan limit of $144,000. There's also a county-by-county loan limit that's usually higher. For example,

San Francisco's is $962,500. An additional entitlement of 25 percent of that amount applies for loans over the standard limit. Lenders take that entitlement and multiply it as well.

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