Cape Coral VA Loans

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A Cape Coral Florida VA loan is a mortgage provided by private lenders that are supported by the Department of Veteran Affairs (VA) so that the process of applying for a home mortgage loan can become easier for vets. The money is then lent by the lenders themselves but the guarantees from the VA help them in locating reliable borrowers among the veterans.

Who is Eligible for a Cape Coral Florida VA Home Mortgage Loan?

There are four kinds of people who can request Cape Coral Florida VA home mortgage loans. These are:

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

Eligibility Requirements for Cape Coral Florida VA Mortgage Loans

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

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

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

Gathering a COE for Cape Coral Florida VA Home Loans

For the request of a Certificate of Eligibility, in-service members of the armed forces and veterans need to have fulfilled specific time durations of service. On the contrary, the eligibility criteria for the significant others of veterans to obtain a loan is slightly 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 might be eligible for a Cape Coral Florida VA home loancontact 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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