Panama City VA Loans

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A Panama City FL VA home loan is a home loan issued by private lenders that are backed by the VA department so that the process of applying for a home mortgage loan can become easier for veterans. The money is then lent by the mortgage companies themselves but the guarantees from the VA help them in finding reliable clients among the veterans.

Who is Qualified for a Panama City Florida VA Home Mortgage?

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

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

Eligibility Requirements for Panama City VA Home Loans

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

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

The guarantee by the department of Veterans Affairs 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 purchase the property, develop it or to make changes to it, as per the needs of the client.

Obtaining a COE for Panama City VA Home Loans

For the request of a Certificate of Eligibility, in-service members of the armed forces need to have completed specific time durations of honorable service. On the contrary, the requirement criteria for the spouses of veterans to get a home loan is somewhat different. It consists of:

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

If you think you might be eligible for a Panama City Florida VA 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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