Ocala VA Loans

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A Ocala Florida VA home loan is a loan offered by private lenders that are backed by the Department of Veteran Affairs (VA) so that the process of applying for a home loan can become easier for veterans. The funds are 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 Ocala FL VA Home Mortgage Loan?

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

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

Eligibility Requirements for Ocala VA Mortgage Loans

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

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

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

Gathering a COE for Ocala VA Loans

For the obtainment of a COE, service men and women of the armed forces and veterans need to have completed specific time amounts of honorable service. On the other hand, the eligibility criteria for the spouses of vets to obtain a home loan 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 vets who are still alive but were disabled during service.

If you think you are eligible for a Ocala Florida VA loancontact 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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