Miami Beach VA Loans

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

Who is Qualified for a Miami Beach Florida VA Mortgage?

There are four types of people who can apply for Miami Beach Florida VA mortgages. These are:

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

Qualifying Requirements for Miami Beach Florida VA Mortgages

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

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

The VA-guaranteed loan is offered only when the home is for personal use of the borrower. However, the funds can be used to purchase the property, build it or to make changes to it, as per the needs of the client.

Gathering a Certification of Eligibility for Miami Beach Florida VA Loans

For the obtainment of a Certificate of Eligibility, in-service members of the armed forces and veterans need to have completed specific time durations of service.

On the other hand, the eligibility criteria for the significant others of veterans to get a mortgage is slightly different. It includes:

• 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 those veterans who are alive but have been disabled during service.

If you think you might be eligible for a Miami Beach Florida VA home mortgagecontact First Nationwide Lending at (877) 442-4023 for more information today!

 

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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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