Royal Palm Beach VA Loans

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A Royal Palm Beach Florida VA home mortgage is a mortgage provided by private lenders that are supported by the VA department 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 identifying reliable borrowers among the veterans.

Who is Qualified for a Royal Palm Beach FL VA Home Loan?

There are four kinds of people who can apply for Royal Palm Beach VA home mortgages. These are:

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

Qualifying Requirements for Royal Palm Beach 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 guarantee by the VA mortgage loan in Royal Palm Beach FL is granted only when the home is for individual use of the borrower. However, the funds can be used to purchase the home, develop it or to make improvements in it, as per the requirements of the borrower.

Gathering a Certification of Eligibility for Royal Palm Beach VA Loans

For the request of a Certificate of Eligibility, in-service members of the armed forces and veterans need to have completed specific time durations of service. On the other hand, the requirement criteria for the spouses of vets to obtain a home mortgage is slightly different. It consists of:

• Spouses of deceased veterans who have not remarried.
• Spouses of veterans who have gone MIA 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 are eligible for a Royal Palm Beach 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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