North Port VA Loans

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A North Port VA home mortgage is a mortgage provided by private lenders that are backed by the Department of Veteran Affairs (VA) so that the process of getting a mortgage loan can become easier for vets. The money is then lent by the mortgage lender themselves but the guarantees from the VA help them in identifying reliable borrowers among the veterans.

Who is Qualified for a North Port Florida VA Home Loan?

There are four kinds of people who can request North Port VA mortgage loans. These are:

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

Eligibility Requirements for North Port VA Mortgage Loans

Not every veteran qualifies for a VA home 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 VA-guaranteed mortgage loan in North Port is offered only when the house is for individual use of the borrower. However, the money can be used to buy the property, develop it or to make improvements in it, as per the needs of the borrower.

Gathering a COE for North Port 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 amounts of service. On the other hand, the requirement criteria for the spouses of veterans to get a home mortgage is somewhat different. It consists of:

• Spouses of deceased veterans 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 still alive but were disabled during service.

If you think you might be eligible for a North Port Florida VA loanscontact 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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