Melbourne VA Loans

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A Melbourne FL VA home loan is a mortgage offered by private lenders that are supported by the VA department so that the process of getting a mortgage can become simpler 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 Qualified for a Melbourne VA Mortgage?

There are four kinds of people who can apply for Melbourne FL VA home loans. These are:

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

Eligibility Requirements for Melbourne VA Loans

Not all veteran qualifies for a VA loan. In order qualify, veterans require:

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

The guarantee by the VA mortgage is granted only when the house is for individual use of the client. However, the money can be used to buy the home, build it or to make changes to it, as per the requirements of the client.

Gathering a COE for Melbourne VA Mortgage Loans

For the obtainment of a COE, service men and women of the armed forces need to have fulfilled specific time amounts of service. On the other hand, the eligibility criteria for the spouses of vets to obtain a home loan is slightly different. It consists of:

• 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 who are alive but have been disabled during service.

If you think you are eligible for a Melbourne FL 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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