Hollywood VA Loans

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

Who is Qualified for a Hollywood VA Home Loan?

There are four kinds of people who can request Hollywood VA loans. These are:

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

Qualifying Requirements for Hollywood VA Loans

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

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

The VA-guaranteed home loan is granted only when the home is for personal use of the borrower. However, the money can be used to purchase the house, develop it or to make improvements in it, as per the requirements of the client.

Gathering a COE for Hollywood VA Mortgage Loans

For the obtainment of a Certificate of Eligibility, in-service members of the armed forces and veterans need to have completed specific time amounts of service.

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

• Spouses of veterans that are now deceased who have not remarried.
• Spouses of veterans who have gone MIA or are prisoners of war.
• 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

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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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