Sanford VA Loans

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A Sanford FL 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 getting a home mortgage loan can become simpler for vets. The funds are lent by the mortgage companies themselves but the guarantees from the VA help them in finding reliable borrowers among the veterans.

Who is Eligible for a Sanford Florida VA Loan?

There are four kinds of people who can apply for Sanford VA home loans. These are:

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

Eligibility Requirements for Sanford VA Loans

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

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

The guarantee by the department of Veterans Affairs mortgage in Sanford Florida is granted only when the house is for individual use of the borrower. However, the funds can be used to purchase the property, develop it or to make improvements in it, as per the needs of the borrower.

Obtaining a Certification of Eligibility for Sanford VA Mortgages

For the obtainment of a COE, service men and women of the armed forces need to have completed specific time amounts of service. On the other hand, the requirement criteria for the spouses of veterans to get a home mortgage loan is somewhat different. It includes:

• Spouses of deceased veterans 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 those veterans who are alive but were disabled during service.

If you think you might be eligible for a Sanford Florida VA home 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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