Margate VA Loans

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A Margate VA home loan is a home mortgage loan provided by private lenders that are supported by the VA department so that the process of getting a mortgage loan can become simpler for veterans. The money is then lent by the mortgage lender themselves but the guarantees from the VA help them in finding reliable clients among the veterans.

Who is Eligible for a Margate Florida VA Mortgage Loan?

There are four kinds of people who can request Margate VA home mortgages. These are:

• Veterans who have served with the United States military.
• Military soldiers who are currently on active duty.
• Reservists or members of the National Guard.
• Spouses of certain veterans that are now deceased.

Qualifying Requirements for Margate VA Mortgages

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

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

The guarantee by the department of Veterans Affairs loan in Margate is offered only when the house is for individual use of the client. However, the money can be used to purchase the home, build it or to make changes to it, as per the needs of the client.

Requesting a Certification of Eligibility for Margate VA Mortgage Loans

For the obtainment of a COE, service men and women of the armed forces and veterans need to have fulfilled specific time amounts of honorable service. On the other hand, 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 MIA or are POWs.
• Spouses who have remarried after reaching the age of 57.
• Spouses of those veterans which still alive but have been disabled during service.

If you think you are eligible for a Margate 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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