Ocala VA Loans

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A Ocala Florida VA mortgage loan is a home mortgage loan offered by private lenders that are supported by the Department of Veteran Affairs (VA) so that the process of obtaining a mortgage loan can become simpler for vets. The funds are lent by the lenders themselves but the guarantees from the VA help them in locating reliable borrowers among the veterans.

Who is Qualified for a Ocala Florida VA Home Mortgage?

There are four types of people who can apply for Ocala VA loans. These are:

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

Qualifying Requirements for Ocala VA Loans

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

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

The VA-guaranteed mortgage in Ocala Florida is offered only when the house is for personal use of the client. However, the money can be used to buy the house, develop it or to make changes to it, as per the requirements of the client.

Requesting a COE for Ocala VA Home Loans

For the obtainment of a Certificate of Eligibility, service men and women of the armed forces need to have completed specific time amounts of honorable service. On the other hand, the eligibility criteria for the spouses of vets to get a mortgage 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 which still alive but were disabled during service.

If you think you might be eligible for a Ocala Florida VA home mortgagecontact 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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