Palm Bay VA Loans

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A Palm Bay FL VA mortgage is a loan issued by private lenders that are backed by the VA department so that the process of obtaining a home mortgage loan can become simpler for veterans. 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 Florida VA Mortgage Loan?

There are four kinds of people who can apply for Palm Bay VA loans. These are:

• Veterans who served with the U.S. armed forces.
• Military men and woman who are 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 is eligible for a VA home loan. 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 VA mortgage loan in Palm Bay Florida is offered only when the home is for individual use of the borrower. However, the funds can be used to purchase the house, develop it or to make improvements in it, as per the needs of the borrower.

Requesting a COE for Palm Bay VA Mortgage Loans

For the gathering of a COE, service men and women of the armed forces need to have fulfilled specific time durations of honorable service. On the contrary, the requirement criteria for the spouses of veterans to get a mortgage is slightly different. It includes:

• 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 have remarried after reaching the age of 57.
• Spouses of those veterans who are alive but were disabled during service.

If you think you might be eligible for a Palm Bay 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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