Altamonte Springs VA Loans

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An Altamonte Springs Florida VA mortgage is a home mortgage loan issued by private lenders that are backed by the Department of Veteran Affairs (VA) so that the process of getting a mortgage can become easier for vets. The actual money is lent by the mortgage companies themselves but the guarantees from the VA help them in locating reliable borrowers among the veterans.

Who is Eligible for an Altamonte Springs Florida VA Home Mortgage Loan?

There are four types of people who can apply for Altamonte Springs VA home loans. These are:

• Veterans who have served with the U.S. armed forces.
• Military men who are currently on active duty.
• Reservists or members of the National Guard.
• Spouses of certain veterans that are now deceased.

Eligibility Requirements for Altamonte Springs VA Loans

Not all veteran is eligible for a VA mortgage. In order qualify, veterans require:

• Sufficient and reliable credit history.
• A fixed and stable means of income.
• A valid Certificate of Eligibility (COE).

The guarantee by the VA mortgage loan in Altamonte Springs is offered only when the house is for individual use of the borrower. However, the funds can be used to buy the property, build it or to make changes to it, as per the needs of the borrower.

Gathering a COE for Altamonte Springs VA Loans

For the request of a COE, service men and women of the armed forces need to have fulfilled specific time durations of honorable service. On the contrary, the eligibility criteria for the spouses of veterans to get a mortgage is somewhat different. It includes:

• Spouses of veterans that are now deceased who have not remarried.
• Spouses of veterans who have gone MIA or are POWs.
• Spouses who remarried after reaching the age of 57.
• Spouses of vets which alive but were disabled during service.

If you think you are eligible for an Altamonte Springs Florida VA loancontact First Nationwide Lending at (877) 442-4023 for more information today!

 

Contact Us

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1990 Main Street, Suite 750
Sarasota, FL 34236
Phone: (941) 256-3729
Toll Free: (877) 442-4023

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