Palm Bay VA Loans

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A Palm Bay Florida VA home mortgage is a mortgage offered by private lenders that are supported by the Department of Veteran Affairs (VA) so that the process of obtaining a home loan can become simpler for vets. The funds are lent by the mortgage lender themselves but the guarantees from the VA help them in finding reliable clients among the veterans.

Who is Qualified for a Palm Bay FL VA Loan?

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

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

Eligibility Requirements for Palm Bay VA Loans

Not every veteran qualifies for a VA home loan. In order qualify, veterans require:

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

The VA-guaranteed home loan in Palm Bay FL is offered only when the home is for personal use of the borrower. However, the funds can be used to buy the home, develop it or to make improvements in it, as per the needs of the borrower.

Gathering a COE for Palm Bay VA Mortgages

For the gathering of a Certificate of Eligibility, service men and women of the armed forces need to have completed specific time durations of service. On the other hand, the eligibility criteria for the spouses of veterans to get a home mortgage is slightly different. It consists of:

• Spouses of veterans that are now deceased 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 those veterans who are still alive but were disabled during service.

If you think you might be eligible for a Palm Bay Florida VA mortgage 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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