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Being involved with vets, every now and then there is someone with great stories who somehow just cannot provide that DD214 to join national vet associations. Often fellow vets are angry at this. Sometimes they let it slide. But it does happen.
And being a concerned friend is a good thing.
That said, this guy could be for real or not. Just wondering the compelling reason for his joining up. Yes, he could have joined in the mid 80s out of high school. Not at all unusual. I know a guy who in his upper 30s decided to join about three years ago since he wanted to do his part during wartime.
It kind of seems like this vet does not understand the VA loan basics or maybe he's expressing it to his gf poorly.
I don't know too much but she did say he can't get the VA loan until his credit rises. She said they've been waiting a long time and it's still too low. Does a VA loan have to do with credit?
I don't know too much but she did say he can't get the VA loan until his credit rises. She said they've been waiting a long time and it's still too low. Does a VA loan have to do with credit?
Yes, they have a credit requirement. So his lender would have given him a credit repair plan. Sometimes it can take 60 days, sometimes it takes a year. Once his credit rises to where it needs to be, then he will be eligible to start looking at homes as he will qualify for a loan at that time.
Sounds like you don't trust your friend's boyfriend.
Buying a house has to do with credit, yes. No one gives a loan without qualifying for themselves the fact that a buyer can pay it back. They are even more careful as the years go on since the horrible financial times not long ago.
The lender will even check at the last minute to make sure the buyer hasn't foolishly made any purchases to mess up his credit and incur additional debt and run the risk of not paying his mortgage payment.
It is helpful to the buyer actually. Rather than having the buyer be foreclosed on, losing a home and ruining his own credit.
Two Realtor friends happen to have people closing soon on homes they rented while they were working hard to retrieve their good credit. They had excellent jobs in order to even begin to accomplish this though. Caught in the bad times they had to sell their homes, move, and as temporarily displaced homeowners, they looked for suitable homes and asked if they could rent for a year before purchasing.
They didn't look specifically for homes offering this up front, but homes that hadn't sold, needed a little work.....as their credit did. They had gotten great jobs in other cities first. Good jobs allowed their approval. They spoke with loan officers who told them what to do. They worked overtime, saved every penny they could, incurred no new expenses, etc.
So does this guy appear to be doing the same...I mean no big expenses, no new credit, saving his pennies, working as much as he can?
Is he and your friend able to rent? Does he rent alone now?
His current condition might be phrased not as he's waiting for his loan to materialize....but, rather, he's working on (not waiting on) his credit score improvement so he can qualify for a home loan.
Does it look like that's the case?
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