Homestead VA Loans

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

Who is Eligible for a Homestead Florida VA Loan?

There are four kinds of people who can apply for Homestead VA home mortgages. These are:

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

Eligibility Requirements for Homestead VA Home Loans

Not every veteran qualifies for a VA mortgage. 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 department of Veterans Affairs home loan in Homestead is granted only when the home is for individual use of the client. However, the money can be used to purchase the house, develop it or to make improvements in it, as per the needs of the client.

Obtaining a COE for Homestead VA Mortgage Loans

For the request of a COE, in-service members of the armed forces and veterans need to have fulfilled specific time amounts of honorable service. On the contrary, the eligibility criteria for the spouses of veterans to get a home 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 POWs.
• Spouses who have remarried after reaching the age of 57.
• Spouses of those veterans which alive but were disabled during service.

If you think you might be eligible for a Homestead Florida VA loanscontact 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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