Clearwater VA Loans

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

Who is Eligible for a Clearwater VA Home Mortgage?

There are four kinds of people who can apply for Clearwater VA 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 Clearwater VA Loans

Not every veteran qualifies for a VA home loan. In order to be eligible, 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 funds can be used to purchase the home, develop it or to make improvements in it, as per the requirements of the borrower.

Gathering a Certification of Eligibility for Clearwater VA Mortgages

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

On the other hand, the eligibility criteria for the spouses of vets to get a home 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 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 Clearwater VA home 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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