Hollywood VA Loans

apply-now-today

A Hollywood VA loan is a mortgage offered by private lenders that are backed by the Department of Veteran Affairs (VA) so that the process of applying for a home mortgage loan can become simpler for veterans. The funds are lent by the lenders themselves but the guarantees from the VA help them in finding reliable clients among the veterans.

Who is Qualified for a Hollywood VA Home Loan?

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

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

Qualifying Requirements for Hollywood FL VA Mortgage Loan

Not every veteran is eligible for a VA loan. 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 mortgage loan 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 improvements in it, as per the needs of the client.

Obtaining a Certification of Eligibility for Hollywood VA Home Loans

For the request of a Certificate of Eligibility, in-service members of the armed forces need to have completed specific time durations of service.

On the contrary, the eligibility criteria for the spouses of veterans to get a loan is slightly different. It includes:

• Spouses of deceased veterans who have not remarried.
• Spouses of veterans who have gone MIA 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 Hollywood VA home mortgagecontact First Nationwide Lending at (877) 442-4023 for more information today!

 

Contact Us

map

1990 Main Street, Suite 750
Sarasota, FL 34236
Phone: (941) 256-3729
Toll Free: (877) 442-4023

Latest News