Boca Raton VA Loans

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A Boca Raton VA home mortgage loan is a home mortgage loan provided by private lenders that are supported by the Department of Veteran Affairs (VA) so that the process of obtaining a mortgage loan can become simpler for veterans. The money is then lent by the mortgage lender themselves but the guarantees from the VA help them in locating reliable clients among the veterans.

Who is Qualified for a Boca Raton VA Home Loan?

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

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

Eligibility Requirements for Boca Raton VA Home Loans

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

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

The VA-guaranteed mortgage loan is offered only when the home is for individual use of the borrower. However, the funds can be used to buy the house, build it or to make changes to it, as per the requirements of the borrower.

Gathering a Certification of Eligibility for Boca Raton VA Mortgages

For the obtainment of a Certificate of Eligibility, in-service members of the armed forces and veterans need to have fulfilled specific time amounts of honorable service.

On the other hand, the eligibility criteria for the spouses of veterans to get a home mortgage loan 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 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 loanscontact First Nationwide Lending at (877) 442-4023 for more information today!

 

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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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