Saint Petersburg VA Loans

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A Saint Petersburg FL VA home loan is a loan issued by private lenders that are backed by the Department of Veteran Affairs (VA) so that the process of obtaining a home mortgage loan can become simpler for veterans. The funds are 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 Saint Petersburg FL VA Mortgage?

There are four types of people who can request Saint Petersburg FL VA home mortgages. These are:

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

Qualifying Requirements for Saint Petersburg FL VA Mortgages

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

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

The VA-guaranteed loan is granted only when the house is for individual use of the borrower. However, the money can be used to purchase the house, build it or to make changes to it, as per the requirements of the client.

Obtaining a COE for St Petersburg VA Mortgage Loans

For the obtainment of a COE, service men and women of the armed forces need to have completed specific time durations of honorable service.

On the other hand, the requirement criteria for the significant others of veterans to obtain a home loan is somewhat different. It includes:

• 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 those veterans who are alive but have been disabled during service.

If you think you are eligible for a Saint Petersburg FL VA 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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