Panama City VA Loans

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A Panama City VA loan is a mortgage loan offered by private lenders that are backed by the VA department so that the process of obtaining a home loan 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 Qualified for a Panama City Florida VA Home Mortgage Loan?

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

• Veterans who have served with the United States military.
• Military soldiers which are on active duty.
• Reservists or members of the National Guard.
• Spouses of certain deceased veterans.

Eligibility Requirements for Panama City VA Mortgages

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

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

The VA-guaranteed mortgage in Panama City Florida is granted only when the house is for individual use of the client. However, the money can be used to buy the home, build it or to make improvements in it, as per the requirements of the client.

Requesting a COE for Panama City VA Mortgages

For the request of a Certificate of Eligibility, service men and women of the armed forces need to have fulfilled specific time durations of service. On the other hand, the requirement criteria for the spouses of vets to get a loan 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 have remarried after reaching the age of 57.
• Spouses of vets which still alive but were disabled during service.

If you think you might be eligible for a Panama City 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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