Boca Raton VA Loans

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A Boca Raton VA loan is a home loan offered by private lenders that are supported by the Department of Veteran Affairs (VA) so that the process of obtaining a mortgage can become easier for veterans. The funds are lent by the mortgage companies themselves but the guarantees from the VA help them in finding reliable borrowers among the veterans.

Who is Qualified for a Boca Raton VA Mortgage Loan?

There are four kinds of people who can request Boca Raton VA mortgages. These are:

• Veterans who served with the U.S. military.
• Military men who are currently active on duty.
• Member or reservists of the National Guard.
• Spouses of certain deceased veterans.

Qualifying Requirements for Boca Raton VA Mortgage Loan

Not every veteran qualifies for a VA home loan. In order qualify, veterans require:

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

The VA-guaranteed loan is granted 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 improvements in it, as per the requirements of the borrower.

Gathering a Certification of Eligibility for Boca Raton VA Mortgage Loans

For the request of a COE, in-service members of the armed forces and veterans need to have completed specific time durations of honorable service.

On the other hand, the eligibility criteria for the significant others of veterans to get a loan is somewhat different. It includes:

• Spouses of deceased veterans who have not remarried.
• Spouses of veterans who have gone missing in action or are prisoners of war.
• Spouses who have remarried after reaching the age of 57.
• Spouses of those veterans who are alive but have been disabled during service.

If you think you are eligible for a Boca Raton VA mortgagecontact 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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