We just received word today that we are able to provide VA financing for customers with a 620 or greater credit score. Previously, the minimum score requirement for VA financing was 640. If you or anyone in your office has a transaction that may need a second look please let us know! While we have always been known to find ways to make a transaction approvable, Evergreen has taken an official initiative on this as well. Of course we still must meet investor requirements but our Underwriters work with us to find ways to meet these requirements that may not be obvious. We are determined to provide solutions that lead to loan approval. Much of this may be in the buyer’s control but in many cases it is simply a matter of the lender asking more questions and obtaining more documentation. We are also able to close most transactions in less than 30 days. Today, we funded a loan for a first time home buyer purchasing a short sale where we waited 4 months for bank approval then we had 2 weeks to close. We updated documentation, sent out disclosures, processed the disclosures, ordered and received the appraisal, obtained final loan approval and approval and had documents in escrow on the 7th business day. Local processing, underwriting and funding allow us to meet and exceed these deadlines.
Please let us know if we can help you in any way. We’re excited to offer more options to your home buyers, especially our Veterans.
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