Pensacola VA Loans

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A Pensacola VA mortgage is a loan offered by private lenders that are backed by the Department of Veteran Affairs (VA) so that the process of obtaining a mortgage can become easier for vets. The funds are lent by the mortgage companies themselves but the guarantees from the VA help them in locating reliable clients among the veterans.

Who is Eligible for a Pensacola Florida VA Mortgage Loan?

There are four types of people who can request Pensacola VA home mortgages. These are:

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

Eligibility Requirements for Pensacola VA Home Loans

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

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

The VA-guaranteed mortgage loan in Pensacola Florida is granted only when the home is for individual use of the client. However, the money can be used to purchase the property, develop it or to make improvements in it, as per the requirements of the client.

Requesting a COE for Pensacola VA Mortgages

For the gathering of a Certificate of Eligibility, in-service members of the armed forces need to have completed specific time durations of honorable service. On the other hand, the requirement criteria for the significant others 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 missing in action or are POWs.
• Spouses who remarried after reaching the age of 57.
• Spouses of vets who are still 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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