Gainesville VA Loans

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

Who is Qualified for a Gainesville VA Mortgage Loan?

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

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

Qualifying Requirements for Gainesville VA Loans

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

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

The guarantee by the VA mortgage loan is offered only when the home 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 needs of the client.

Obtaining a COE for Gainesville VA Mortgage Loans

For the request 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 eligibility criteria for the spouses of vets to obtain a mortgage loan is slightly different. It includes:

• 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 alive but have been disabled during service.

If you think you are eligible for a Gainesville VA loanscontact First Nationwide Lending at (877) 442-4023 for more information today!

First Nationwide Lending offers home owners, and those look to refinance, a variety of different financial options, including, but not limited to: purchase mortgages, refinance loans, reverse mortgage loans, USDA loans, FHA home loans, jumbo mortgage loans, HARP refinance mortgages, and VA loans.

 

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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