Ormond Beach VA Loans

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A Ormond Beach FL VA home mortgage is a loan issued by private lenders that are supported by the Department of Veteran Affairs (VA) so that the process of obtaining a mortgage can become easier for veterans. The actual money is lent by the mortgage lender themselves but the guarantees from the VA help them in finding reliable borrowers among the veterans.

Who is Eligible for a Ormond Beach Florida VA Home Loan?

There are four kinds of people who can request Ormond Beach VA loans. These are:

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

Eligibility Requirements for Ormond Beach VA Mortgage Loans

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

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

The guarantee by the department of Veterans Affairs mortgage in Ormond Beach Florida is offered only when the home is for individual use of the client. However, the funds can be used to purchase the house, build it or to make improvements in it, as per the needs of the client.

Obtaining a COE for Ormond Beach VA Mortgage Loans

For the gathering of a Certificate of Eligibility, in-service members of the armed forces and veterans need to have completed specific time durations of service. On the contrary, the requirement criteria for the significant others of veterans to get a home mortgage is slightly different. It consists of:

• Spouses of deceased veterans who have not remarried.
• Spouses of veterans who have gone MIA or are prisoners of war.
• Spouses who remarried after reaching the age of 57.
• Spouses of vets who are alive but have been disabled during service.

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