Pensacola VA Loans

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A Pensacola VA loan is a mortgage issued by private lenders that are backed by the VA department so that the process of obtaining a mortgage loan can become easier for veterans. The money is then lent by the mortgage lender themselves but the guarantees from the VA help them in identifying reliable borrowers among the veterans.

Who is Eligible for a Pensacola FL VA Home Mortgage?

There are four kinds of people who can apply for Pensacola VA mortgages. These are:

• Veterans who have served with the U.S. armed forces.
• Military men and woman which are on active duty.
• Reservists or members of the National Guard.
• Spouses of certain deceased veterans.

Eligibility Requirements for Pensacola VA Mortgages

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

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

The VA-guaranteed mortgage in Pensacola FL is granted only when the home is for individual use of the borrower. However, the funds can be used to purchase the house, build it or to make changes to it, as per the needs of the borrower.

Requesting a COE for Pensacola VA Loans

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

If you think you are eligible for a Pensacola 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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