Delray Beach VA Loans

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A Delray Beach Florida VA home mortgage is a loan issued by private lenders that are supported by the VA department so that the process of applying for a home loan can become easier for vets. The actual money is lent by the mortgage lender themselves but the guarantees from the VA help them in finding reliable clients among the veterans.

Who is Qualified for a Delray Beach Florida VA Loan?

There are four types of people who can apply for Delray Beach VA mortgage loans. These are:

• Veterans who served with the U.S. military.
• Military men and woman which are on active duty.
• Member or reservists of the National Guard.
• Spouses of certain deceased veterans.

Qualifying Requirements for Delray Beach VA Loans

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

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

The VA-guaranteed loan in Delray Beach is granted only when the house is for personal use of the client. However, the funds can be used to buy the property, build it or to make improvements in it, as per the requirements of the client.

Obtaining a COE for Delray Beach VA Mortgage 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 contrary, the requirement criteria for the spouses 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 prisoners of war.
• Spouses who have remarried after reaching the age of 57.
• Spouses of those veterans who are still alive but were disabled during service.

If you think you are eligible for a Delray 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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