Clearwater VA Loans

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

Who is Qualified for a Clearwater VA Home Mortgage Loan?

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

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

Qualifying Requirements for Clearwater VA Home Loans

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

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

The VA-guaranteed mortgage loan is offered only when the home is for personal use of the borrower. However, the funds can be used to buy the property, build it or to make changes to it, as per the requirements of the borrower.

Obtaining a Certification of Eligibility for Clearwater VA Loans

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

On the other hand, the eligibility criteria for the spouses of vets to obtain a mortgage is slightly different. It includes:

• Spouses of deceased veterans 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 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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