Daytona Beach VA Loans

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A Daytona Beach VA home mortgage is a mortgage issued by private lenders that are backed by the VA department so that the process of applying for a mortgage loan can become simpler for vets. The actual money is lent by the mortgage companies themselves but the guarantees from the VA help them in finding reliable borrowers among the veterans.

Who is Eligible for a Daytona Beach Florida VA Home Loan?

There are four kinds of people who can request Daytona Beach VA home mortgages. These are:

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

Qualifying Requirements for Daytona Beach VA Mortgage Loans

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

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

The guarantee by the VA home loan is granted only when the home is for individual use of the client. However, the funds can be used to buy the home, build it or to make changes to it, as per the needs of the client.

Obtaining a COE for Daytona Beach VA Home Loans

For the request of a COE, in-service members of the armed forces and veterans need to have fulfilled specific time amounts of honorable service. On the contrary, the requirement criteria for the significant others of veterans to get a home mortgage is somewhat different. It consists of:

• Spouses of deceased veterans who have not remarried.
• Spouses of veterans who have gone missing in action or are POWs.
• Spouses who have remarried after reaching the age of 57.
• Spouses of those veterans who are still alive but have been disabled during service.

If you think you might be eligible for a Daytona Beach Florida VA loanscontact 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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