Pompano Beach VA Loans

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A Pompano Beach Florida VA home mortgage loan is a mortgage offered by private lenders that are backed by the Department of Veteran Affairs (VA) so that the process of applying for 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 locating reliable borrowers among the veterans.

Who is Eligible for a Pompano Beach FL VA Mortgage?

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

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

Qualifying Requirements for Pompano Beach VA Mortgage Loan

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

• Sufficient and consistent 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 Pompano Beach FL is offered only when the house is for individual use of the client. However, the money can be used to buy the home, develop it or to make improvements in it, as per the requirements of the client.

Gathering a Certification of Eligibility for Pompano Beach VA Home Loans

For the obtainment of a Certificate of Eligibility, in-service members of the armed forces need to have fulfilled specific time durations of honorable service. On the other hand, the eligibility criteria for the spouses of veterans to obtain a home mortgage loan 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 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 Pompano Beach Florida VA home 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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