Palm Bay VA Loans

apply-now-today

A Palm Bay FL VA mortgage is a loan offered by private lenders that are backed by the VA department so that the process of obtaining a mortgage loan can become simpler for vets. The actual money is lent by the lenders themselves but the guarantees from the VA help them in identifying reliable borrowers among the veterans.

Who is Qualified for a Palm Bay FL VA Mortgage?

There are four types of people who can request Palm Bay VA loans. These are:

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

Eligibility Requirements for Palm Bay VA Mortgage Loans

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

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

The VA-guaranteed loan in Palm Bay FL is offered only when the home is for individual use of the client. However, the funds can be used to purchase the property, develop it or to make improvements in it, as per the requirements of the client.

Gathering a Certification of Eligibility for Palm Bay VA Home Loans

For the obtainment of a COE, in-service members of the armed forces and veterans need to have completed specific time amounts of service. On the other hand, the requirement criteria for the spouses of veterans to obtain a mortgage is somewhat different. It includes:

• Spouses of deceased veterans who have not remarried.
• Spouses of veterans who have gone MIA or are POWs.
• Spouses who remarried after reaching the age of 57.
• Spouses of those veterans which still alive but have been disabled during service.

If you think you might be eligible for a Palm Bay Florida VA loancontact First Nationwide Lending at (877) 442-4023 for more information today!

 

Contact Us

map

1990 Main Street, Suite 750
Sarasota, FL 34236
Phone: (941) 256-3729
Toll Free: (877) 442-4023

Latest News