Cape Coral VA Loans

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A Cape Coral VA 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 getting a mortgage can become simpler for vets. The actual money is lent by the mortgage companies themselves but the guarantees from the VA help them in identifying reliable clients among the veterans.

Who is Eligible for a Cape Coral VA Loan?

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

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

Eligibility Requirements for Cape Coral VA Mortgage Loans

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

• Sufficient and reliable 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, develop it or to make changes to it, as per the needs of the client.

Gathering a Certification of Eligibility for Cape Coral VA Mortgage Loans

For the obtainment of a COE, in-service members of the armed forces need to have fulfilled specific time durations of honorable service. On the contrary, the eligibility criteria for the significant others of veterans to obtain a 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 Cape Coral 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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