Panama City VA Loans

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A Panama City Florida VA home mortgage is a mortgage issued by private lenders that are supported by the Department of Veteran Affairs (VA) so that the process of obtaining a home loan can become easier for vets. The actual money is lent by the mortgage companies themselves but the guarantees from the VA help them in identifying reliable clients among the veterans.

Who is Eligible for a Panama City FL VA Home Loan?

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

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

Qualifying Requirements for Panama City VA Mortgage Loans

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

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

The guarantee by the department of Veterans Affairs loan in Panama City FL is granted only when the home is for individual use of the client. However, the funds can be used to buy the house, build it or to make changes to it, as per the requirements of the client.

Requesting a COE for Panama City VA Mortgage Loans

For the request of a Certificate of Eligibility, service men and women of the armed forces and veterans need to have fulfilled specific time durations of honorable service. On the contrary, the requirement criteria for the significant others of veterans to obtain a home 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 still alive but have been disabled during service.

If you think you might be eligible for a Panama City 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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