Boca Raton VA Loans

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A Boca Raton VA mortgage is a mortgage loan issued by private lenders that are supported by the Department of Veteran Affairs (VA) so that the process of getting a home loan can become simpler for vets. The money is then 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 Home Mortgage?

There are four types of people who can apply for Boca Raton VA loans. These are:

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

Eligibility Requirements for Boca Raton VA Mortgage Loan

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

• Sufficient and reliable credit background.
• A solid means of income.
• A valid Certificate of Eligibility (COE).

The VA-guaranteed mortgage is granted only when the house is for personal use of the borrower. However, the money can be used to purchase the home, develop it or to make improvements in it, as per the requirements of the borrower.

Obtaining a Certification of Eligibility for Boca Raton VA Home Loans

For the obtainment of a COE, in-service members of the armed forces need to have completed specific time amounts of service.

On the contrary, the requirement criteria for the significant others of veterans to obtain 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 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 home mortgagecontact 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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