Homestead VA Loans

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A Homestead Florida VA home loan is a home loan provided by private lenders that are supported by the Department of Veteran Affairs (VA) so that the process of applying for a mortgage loan can become simpler for vets. The money is then lent by the mortgage lender themselves but the guarantees from the VA help them in locating reliable clients among the veterans.

Who is Qualified for a Homestead Florida VA Mortgage?

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

• Veterans who served with the U.S. armed forces.
• Military soldiers who are on active duty.
• Reservists or members of the National Guard.
• Spouses of certain deceased veterans.

Eligibility Requirements for Homestead VA Mortgages

Not every veteran qualifies for a VA loan. In order to be eligible, veterans require:

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

The VA-guaranteed mortgage in Homestead is granted only when the home is for individual use of the client. However, the funds can be used to buy the house, develop it or to make changes to it, as per the requirements of the client.

Gathering a Certification of Eligibility for Homestead VA Mortgage Loans

For the request of a Certificate of Eligibility, in-service members of the armed forces and veterans need to have completed 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 consists of:

• Spouses of deceased veterans who have not remarried.
• Spouses of veterans who have gone missing in action or are POWs.
• Spouses who remarried after reaching the age of 57.
• Spouses of those veterans which alive but have been disabled during service.

If you think you are 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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