Port Orange VA Loans

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A Port Orange VA mortgage is a loan issued by private lenders that are backed by the Department of Veteran Affairs (VA) so that the process of getting a home mortgage loan can become simpler for vets. The money is then lent by the mortgage companies themselves but the guarantees from the VA help them in locating reliable borrowers among the veterans.

Who is Qualified for a Port Orange Florida VA Loan?

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

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

Eligibility Requirements for Port Orange VA Home Loans

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

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

The VA-guaranteed loan in Port Orange Florida is granted only when the house is for individual use of the borrower. However, the money can be used to purchase the house, develop it or to make improvements in it, as per the requirements of the borrower.

Gathering a COE for Port Orange VA Mortgage Loans

For the obtainment of a COE, in-service members of the armed forces and veterans need to have completed specific time amounts of service. On the other hand, the requirement criteria for the significant others of veterans to obtain a mortgage is slightly different. It includes:

• Spouses of deceased veterans who have not remarried.
• Spouses of veterans who have gone missing in action or are POWs.
• Spouses who have remarried after reaching the age of 57.
• Spouses of vets which alive but have been disabled during service.

If you think you might be eligible for a Port Orange Florida VA home mortgagecontact 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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