Doral VA Loans

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A Doral FL VA home mortgage is a mortgage offered by private lenders that are backed by the Department of Veteran Affairs (VA) so that the process of getting a mortgage can become simpler for vets. The money is then lent by the lenders themselves but the guarantees from the VA help them in finding reliable borrowers among the veterans.

Who is Eligible for a Doral Florida VA Loan?

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

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

Qualifying Requirements for Doral VA Mortgage Loan

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

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

The guarantee by the VA loan in Doral is granted only when the home is for personal use of the borrower. However, the money can be used to purchase the property, develop it or to make changes to it, as per the needs of the borrower.

Obtaining a Certification of Eligibility for Doral VA Loans

For the request of a Certificate of Eligibility, service men and women of the armed forces and veterans need to have completed specific time durations of service. On the other hand, the eligibility criteria for the spouses of vets to get a home mortgage is slightly 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 which still alive but have been disabled during service.

If you think you might be eligible for a Doral Florida VA home 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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