Ormond Beach VA Loans

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A Ormond Beach FL VA home loan is a mortgage 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 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 Ormond Beach Florida VA Mortgage Loan?

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

• Veterans who served with the U.S. armed forces.
• Military soldiers which are currently on active duty.
• Reservists or members of the National Guard.
• Spouses of certain veterans that are now deceased.

Eligibility Requirements for Ormond Beach VA Loans

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

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

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

Requesting a Certification of Eligibility for Ormond Beach VA Loans

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

If you think you might be eligible for a Ormond Beach Florida VA loanscontact 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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