Merritt Island VA Loans

apply-now-today

A Merritt Island VA home mortgage loan is a loan provided by private lenders that are supported by the VA department so that the process of obtaining a home loan can become easier for vets. The money is then lent by the mortgage companies themselves but the guarantees from the VA help them in identifying reliable borrowers among the veterans.

Who is Eligible for a Merritt Island Florida VA Home Mortgage Loan?

There are four types of people who can request Merritt Island VA mortgage loans. These are:

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

Qualifying Requirements for Merritt Island VA Loans

Not every veteran qualifies 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 VA mortgage loan in Merritt Island is granted only when the home is for individual use of the client. However, the funds can be used to purchase the property, build it or to make improvements in it, as per the needs of the client.

Gathering a COE for Merritt Island VA Home Loans

For the request of a COE, in-service members of the armed forces and veterans need to have fulfilled specific time amounts of service. On the contrary, the requirement criteria for the spouses of veterans to obtain a home mortgage loan is slightly 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 prisoners of war.
• Spouses who have remarried after reaching the age of 57.
• Spouses of those veterans who are still alive but were disabled during service.

If you think you might be eligible for a Merritt Island Florida VA loancontact First Nationwide Lending at (877) 442-4023 for more information today!

 

Contact Us

map

1990 Main Street, Suite 750
Sarasota, FL 34236
Phone: (941) 256-3729
Toll Free: (877) 442-4023

Latest News