Clearwater VA Loans

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A Clearwater 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 applying for a home mortgage loan can become easier for veterans. The funds are lent by the lenders themselves but the guarantees from the VA help them in locating reliable clients among the veterans.

Who is Eligible for a Clearwater VA Mortgage?

There are four types of people who can apply for Clearwater VA home mortgages. These are:

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

Eligibility Requirements for Clearwater VA Loans

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

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

The VA-guaranteed home loan is granted only when the house is for personal use of the borrower. However, the funds can be used to purchase the property, develop it or to make changes to it, as per the requirements of the borrower.

Obtaining a COE for Clearwater VA Mortgages

For the request of a COE, service men and women of the armed forces and veterans need to have fulfilled specific time durations of service.

On the contrary, the eligibility criteria for the spouses of vets to get a mortgage loan is somewhat different. It includes:

• Spouses of deceased veterans who have not remarried.
• Spouses of veterans who have gone missing in action 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 might be 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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