Hollywood VA Loans

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

Who is Eligible for a Hollywood VA Mortgage?

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

• Veterans who served with the U.S. military.
• Military men 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 Mortgage Loan

Not every veteran is eligible 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 VA-guaranteed mortgage loan is granted only when the home is for personal use of the borrower. However, the money can be used to buy the house, build it or to make changes to it, as per the requirements of the borrower.

Gathering a COE for Hollywood VA Home Loans

For the request of a COE, service men and women of the armed forces need to have fulfilled specific time durations of service.

On the contrary, the requirement criteria for the spouses of vets to get a mortgage loan 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 those veterans who are alive but have been disabled during service.

If you think you are eligible for a Hollywood 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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