Sunrise VA Loans

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A Sunrise VA home loan is a mortgage loan issued by private lenders that are backed by the Department of Veteran Affairs (VA) so that the process of obtaining a mortgage can become easier for veterans. The funds are lent by the mortgage companies themselves but the guarantees from the VA help them in finding reliable clients among the veterans.

Who is Qualified for a Sunrise VA Mortgage Loan?

There are four types of people who can apply for Sunrise VA home mortgage loans. These are:

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

Eligibility Requirements for Sunrise VA Mortgage Loans

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

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

The VA-guaranteed loan 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 changes to it, as per the requirements of the client.

Gathering a Certification of Eligibility for Sunrise VA Loans

For the obtainment of a Certificate of Eligibility, service men and women of the armed forces and veterans need to have completed specific time durations of honorable service. On the other hand, the requirement criteria for the spouses of vets to obtain a home loan is slightly different. It includes:

• Spouses of deceased veterans who have not remarried.
• Spouses of veterans who have gone MIA or are POWs.
• 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 might be eligible for a Sunrise 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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