Pensacola VA Loans

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A Pensacola VA home mortgage is a mortgage loan issued by private lenders that are backed by the VA department so that the process of applying for a mortgage can become simpler for vets. The money is then 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 Pensacola FL VA Mortgage?

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

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

Qualifying Requirements for Pensacola VA Loans

Not every veteran qualifies for a VA mortgage loan. In order qualify, veterans require:

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

The guarantee by the VA loan in Pensacola FL is granted only when the house is for personal use of the borrower. However, the funds can be used to buy the home, build it or to make improvements in it, as per the needs of the borrower.

Gathering a COE for Pensacola VA Home Loans

For the request of a Certificate of Eligibility, in-service members of the armed forces need to have completed specific time amounts of service. On the contrary, the eligibility criteria for the significant others of veterans to get a home mortgage 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 prisoners of war.
• Spouses who have remarried after reaching the age of 57.
• Spouses of vets who are still alive but were disabled during service.

If you think you might be eligible for a Pensacola Florida VA loancontact First Nationwide Lending at (877) 442-4023 for more information today!

 

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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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