500 FICO VA Loan with 10% in Chicago and Phoenix.

[Harlan Robinson]

So here is my situation. 

I have 510 FICO and I need to move in December.

• Can I get a VA Loan with a 500 FICO in Chicago, IL for less than 200K with 10% down?
• Can I get a cash out REFI with a 500 FICO at 80% LTV on an income property that I buy cash and fix up?

[Frank Marta]

@Harlan Robinson The fast answer to your two questions is yes & yes with a but in there. YES our VA MinImum CREDIT SCORE REQUIREMENT IS 500 PART 2 YES MINIMUM SCORE FOR INVESTMENT PROPERTIES WITH A CONVENTIONAL LOAN IS ALSO 500 BUT YOU HAVE TO WAIT UNTIL YOU HAVE BEEN OWNING PROPERTY FOR MININUM OF 6 MONTHS BEFORE YOU GO TO CASHOUT REFINANCE. IF YOU SELL YOUR GOOD UNLESS THE Buyers ARE FHA QUALIFIED WITHIN 90 DAY Rule comes Into Play. THERES MORE BUT IT CAN GET COMPLEX DEPENDING ON YOU PLANS. SORRY FOR ALL CAPS THE APP. SEEMS TO BE FORCING ME TO USE THEM??!!!