All over Indiana, Veterans who currently have a VA loan are wondering if the VA streamline refinance that they know or have heard about will help them.
Many of these Veterans are struggling with the economy to make ends meet and as a result have seen their credit score dip. As a result of the lower credit score, they are being told that they don’t qualify for the VA streamline refinance anymore because VA has changed their guidelines and now requires a minimum credit score for all VA streamline refinances.
Which isn’t true!
But what is true is that many lenders have started requiring a minimum credit score for all VA streamline refinances, and each lender is different. Some require a 620. Some a 640. Some a 580.
But there are still lenders out there who will help you get a VA streamline refinance with no minimum credit score required.
So if you have been told by one lender (or two) that you don’t qualify for the VA streamline refinance program because of your credit score, be sure to shop around for a loan officer who can work with a lender that doesn’t require a credit score on a VA streamline refinance.
They are still out there!
