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VA Home Loans for Bad Credit

It is still possible for veterans with bad credit to qualify for a VA Loan. But as you probably expect, it will be more difficult for you to qualify than it would be for someone who has a good credit score. The guidelines that are involved in obtaining and underwriting a VA loan are more flexible than those required by other programs the government offers, for example, the Farmers Home Administrations. There are some things you should expect if you are a veteran with bad credit and you are looking for a VA home loan.

You have to wait for a minimum of two years before applying for a VA home loan if you have filed for a Chapter 7 bankruptcy. But there is one exception. In the event that the bankruptcy was due to unforeseen circumstances, for example, medical reasons or being fired, it is possible to apply for the VA home loan after only waiting one year after the bankruptcy.

If you are seeking to rebuild your credit so that you can obtain good credit and become eligible for a VA loan, you can get a secured credit card to help improve your credit score if you use it responsibly.

Need a Bank Account but have ChexSystems problems or Bad Credit?


Try opening a BBVA Compass Free Checking Account! BBVA is one of the more forgiving banks and may give you a full-fledged REGULAR bank account when you apply online...even with bad banking and credit history.

And if you don't qualify for the regular BBVA checking account for some reason, you'll then be given the option of opening the special BBVA Compass Easy Checking Account, an account designed specifically for those with banking problems.

...learn more about BBVA Second Chance Banking here


If you do decide to get a secured credit card you have more than one option available, you can choose to either apply online or go to a bank; by applying for the card online you will have more options available and be able to get a better deal.

About The Author

Ben Todd

Ben was a seriously broke graduate student with bad credit who after finding himself rejected for any sort of credit card or loan for most of his adult life, finally decided to get his financial life in order. 'He spent several years reading as many financial advice books and blogs as he could.And suprisingly, Ben found he actually LIKED the topic of personal finance; after fixing his own finances, starting his own successful work at home website business, and using his earnings to get out of debt, created echeck.org to help others do likewise!

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