Question 1

How does The Herd Lending approve loans without a minimum credit score?

Accepted Answer

We focus on Residual Income. This is the discretionary income you have left over each month after all major bills—including your new mortgage and estimated maintenance—are paid. A high residual income is a "compensating factor" that can outweigh a lower credit score in the eyes of an underwriter.

Question 2

What is "Assumability" and why is it a selling feature?

Accepted Answer

If you have a low interest rate, a future buyer can "assume" your loan and that rate when you sell. This makes your home a premium asset in a high-rate market. Our Florida VA Loan Guide details how this works specifically for Florida homeowners.

Question 3

Can I use a VA loan for a "Fixer Upper"?

Accepted Answer

The VA requires homes to meet Minimum Property Requirements (MPRs) to ensure they are safe, sound, and sanitary. However, you can often use a VA Renovation Loan to roll the costs of repairs—like a new roof or HVAC—directly into your $0-down mortgage at the time of purchase.

Question 4

I used my VA loan years ago and lost the home to foreclosure. Can I use it again?

Accepted Answer

Yes. Your benefit is a reusable lifetime benefit. Even with a prior foreclosure or bankruptcy, you can typically restore your entitlement after a 2-year waiting period. We specialize in these "second chance" scenarios.

Day: January 4, 2026

2025 Veteran’s Guide: Advanced Strategies to Maximize Your VA Loan Benefit