Securing a VA loan with bad credit isn't impossible, but it is common for many lenders to have a more stringent credit requirements.
VA adjustable-rate mortgages (ARMs) haven't seen much demand in recent years. However, rising interest rates have homebuyers searching for VA ARMs again.
Going through a foreclosure can devastate your credit score, but it doesn't mean you have to wait years and years, let alone a decade, to buy another home after experiencing a foreclosure.
One of the closing costs VA buyers usually contend with is prepaid interest on their new mortgage. Unlike rent, your mortgage is paid in arrears, meaning each payment covers the previous month you lived in the home, not the current one.
All parties on the mortgage will have to meet VA and lender requirements if considering purchasing a home using the VA home loan benefit, including your spouse.