Daytona Beach VA Loans

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A Daytona Beach Florida VA mortgage is a home loan offered by private lenders that are backed by the Department of Veteran Affairs (VA) so that the process of getting a home mortgage loan can become simpler for veterans. 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 Daytona Beach Florida VA Mortgage 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 and woman who are currently on active duty.
• Reservists or members of the National Guard.
• Spouses of certain veterans that are now deceased.

Eligibility Requirements for Daytona Beach VA Mortgage Loans

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

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

The VA-guaranteed mortgage is offered only when the house is for individual use of the client. However, the money can be used to purchase the property, build it or to make changes to it, as per the needs of the client.

Gathering a COE for Daytona Beach VA Loans

For the gathering of a Certificate of Eligibility, service men and women of the armed forces need to have fulfilled specific time durations of honorable service. On the other hand, the requirement criteria for the spouses of vets to get a mortgage is slightly different. It consists of:

• 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 remarried after reaching the age of 57.
• Spouses of vets which still alive but have been disabled during service.

If you think you are eligible for a Daytona Beach Florida VA loancontact 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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