Pompano Beach VA Loans

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A Pompano Beach Florida VA home mortgage loan is a mortgage provided by private lenders that are supported by the Department of Veteran Affairs (VA) so that the process of applying for a mortgage loan can become easier for vets. The money is then 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 Pompano Beach Florida VA Home Mortgage?

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

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

Qualifying Requirements for Pompano Beach VA Loans

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

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

The guarantee by the VA loan in Pompano Beach Florida is offered only when the home is for individual use of the borrower. However, the funds can be used to purchase the property, develop it or to make changes to it, as per the needs of the borrower.

Requesting a COE for Pompano Beach VA Loans

For the gathering of a Certificate of Eligibility, in-service members of the armed forces and veterans need to have fulfilled specific time durations of honorable service. On the other hand, the eligibility criteria for the significant others of veterans to obtain a home mortgage loan is slightly different. It consists of:

• Spouses of veterans that are now deceased who have not remarried.
• Spouses of veterans who have gone missing in action or are prisoners of war.
• Spouses who remarried after reaching the age of 57.
• Spouses of those veterans which alive but were disabled during service.

If you think you might be 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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