Margate VA Loans

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

Who is Eligible for a Margate Florida VA Home Mortgage?

There are four types of people who can apply for Margate VA home mortgages. These are:

• Veterans who have served with the United States armed forces.
• Military men and woman who are on active duty.
• Reservists or members of the National Guard.
• Spouses of certain deceased veterans.

Eligibility Requirements for Margate VA Mortgage Loans

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

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

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

Gathering a Certification of Eligibility for Margate VA Home Loans

For the gathering of a Certificate of Eligibility, in-service members of the armed forces need to have fulfilled specific time amounts of honorable service. On the contrary, the eligibility criteria for the significant others of veterans to get a home mortgage 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 prisoners of war.
• Spouses who have remarried after reaching the age of 57.
• Spouses of vets who are alive but were disabled during service.

If you think you are eligible for a Margate Florida 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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