Learn more about NOVA’s Temporary Interest Rate Buydown program.
NOVA Less than Perfect Credit Loans

A few bumps or bruises on your credit history should not be an obstacle to getting a home loan.
Have a lower credit score? No problem.
- FHA Loans
FHA Loans offer very flexible qualifying requirements. In fact, FICO scores as low as 550 can be eligible with a 10% down payment. -
USDA Loans
FICO scores as low as 620 can be eligible for USDA Loans, which include 100% financing, and they allow gift funds to cover closing costs. - VA Loans
If you’re eligible for VA benefits, you could qualify for a VA Home Loan with a FICO score as low as 550. It also comes with 100% financing and no private mortgage insurance requirement.
NOVA Home Loans Credit Services could help improve your credit score, which may save you money and help you get a better home loan.
Since 2016, we’ve helped over 20,790 borrowers get approved for a home loan—borrowers who otherwise might not have qualified. This FREE service is available to everyone who applies for a loan with NOVA.
- We’ll evaluate your credit and provide recommendations that could potentially improve your credit score.
- We’ll help dispute or correct inaccurate data in your credit report.
- We’ll show you how to maintain higher scores in the future.
- Improved credit gives you access to more loan options.
Had a significant, negative credit event? We can help with that, too.
If you’ve had an unexpected or unplanned financial event that seriously affected your credit, our NOVA Credit Services Professionals can help.
- Four months from the exact date of the event Credit Services will do a soft pull on your credit to make sure everything was reported accurately.
- This will help prevent additional time being added to your credit recovery.
- Credit Services will work with you and the credit bureaus to get your credit realigned so you can apply and qualify for a home loan.
Depending on the type of loan you want, and the type of occurrence you had, below are the standard wait times before you can apply.*
OCCURRENCE | FHA | VA | USDA RURAL |
---|---|---|---|
FORECLOSURE | 3 years from Trust Deed Date |
2 years from Trust Deed Date |
3 years from Trust Deed Date |
SHORT-SALE | 3 years from Transfer of Title Date |
No time frame with AUS Approval |
3 years from Date of Application |
CH. 7 BANKRUPTCY | 2 years from Discharge Date |
2 years from Discharge Date |
3 years from Date of Application |
CH. 13 BANKRUPTCY |
1 year of the payout must elapse & payment performance must be satisfactory. Buyer must receive permission from the court to enter into a mortgage. |
*This is for informational and credit educational purposes only and is not an advertisement to offer or extend credit, nor is this a guaranty of loan approval or commitment to lend. NOVA® Home Loans does not guarantee results. Improvement to your credit score is dependent on your specific situation and financial behavior.
Contact a NOVA Loan Officer to connect with NOVA Credit Services. We’re ready to help.
The Program information shown is for informational/educational purposes only and does not represent a commitment to lend or extend credit. Other terms and conditions may apply. Contact your Loan Officer for more details.