Delray Beach VA Loans

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A Delray Beach VA home mortgage is a loan provided by private lenders that are backed by the VA department so that the process of obtaining a mortgage loan can become easier for veterans. The money is then lent by the mortgage companies themselves but the guarantees from the VA help them in identifying reliable borrowers among the veterans.

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

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

• Veterans who served with the United States military.
• Military personnel who are on active duty.
• Member or reservists of the National Guard.
• Spouses of certain veterans that are now deceased.

Qualifying Requirements for Delray Beach VA Mortgages

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

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

The guarantee by the department of Veterans Affairs loan in Delray Beach is granted only when the home is for personal use of the borrower. However, the funds can be used to buy the property, develop it or to make improvements in it, as per the requirements of the borrower.

Requesting a COE for Delray Beach VA Home Loans

For the obtainment of a COE, service men and women of the armed forces need to have fulfilled specific time amounts of honorable service. On the contrary, the eligibility criteria for the spouses of vets to obtain a home mortgage 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 were disabled during service.

If you think you are eligible for a Delray 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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