Ormond Beach VA Loans

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A Ormond Beach Florida VA mortgage loan is a home loan provided by private lenders that are supported by the Department of Veteran Affairs (VA) so that the process of getting a mortgage 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 Home Loan?

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

• Veterans who served with the United States military.
• Military men and woman who are currently active on duty.
• Reservists or members of the National Guard.
• Spouses of certain veterans that are now deceased.

Eligibility Requirements for Ormond Beach VA Mortgage Loans

Not all veteran qualifies for a VA mortgage loan. In order qualify, veterans require:

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

The VA-guaranteed home loan in Ormond Beach 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 improvements in it, as per the needs of the client.

Obtaining a Certification of Eligibility for Ormond Beach VA Loans

For the request of a Certificate of Eligibility, service men and women of the armed forces and veterans need to have completed specific time durations of service. On the other hand, the eligibility criteria for the spouses of vets to obtain a mortgage 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 POWs.
• Spouses who remarried after reaching the age of 57.
• Spouses of vets which alive but have been disabled during service.

If you think you are eligible for a Ormond Beach 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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