Oakland Park VA Loans

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A Oakland Park VA home loan is a mortgage loan offered by private lenders that are supported by the VA department so that the process of obtaining a mortgage loan can become easier for veterans. The actual money is lent by the lenders themselves but the guarantees from the VA help them in locating reliable borrowers among the veterans.

Who is Eligible for a Oakland Park Florida VA Loan?

There are four types of people who can request Oakland Park VA home mortgage loans. These are:

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

Qualifying Requirements for Oakland Park VA Home Loans

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

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

The guarantee by the department of Veterans Affairs mortgage loan in Oakland Park Florida is offered only when the house is for individual use of the borrower. However, the funds can be used to buy the home, develop it or to make changes to it, as per the needs of the borrower.

Gathering a Certification of Eligibility for Oakland Park VA Mortgages

For the obtainment of a COE, in-service members of the armed forces need to have fulfilled specific time amounts of honorable service. On the other hand, the requirement criteria for the spouses of veterans to obtain a home loan is somewhat different. It consists of:

• 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 vets which still alive but have been disabled during service.

If you think you might be eligible for a Oakland Park Florida VA mortgage loancontact 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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