Coral Gables VA Loans

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A Coral Gables VA loan is a loan offered by private lenders that are supported by the VA department so that the process of getting a home mortgage loan can become simpler 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 Coral Gables Florida VA Mortgage?

There are four types of people who can apply for Coral Gables VA loans. These are:

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

Qualifying Requirements for Coral Gables VA Mortgage Loan

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

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

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

Obtaining a COE for Coral Gables VA Mortgage Loans

For the obtainment of a Certificate of Eligibility, in-service members of the armed forces and veterans need to have fulfilled specific time amounts of honorable service. On the other hand, the eligibility criteria for the spouses of vets to get a loan is somewhat different. It includes:

• Spouses of veterans that are now deceased 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 vets who are still alive but have been disabled during service.

If you think you are eligible for a Coral Gables Florida 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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