Tallahassee VA Loans

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

Who is Eligible for a Tallahassee FL VA Loan?

There are four kinds of people who can apply for Tallahassee FL VA mortgage loans. These are:

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

Qualifying Requirements for Tallahassee FL VA Loans

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

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

The VA-guaranteed loan is offered only when the home is for individual use of the borrower. However, the funds can be used to purchase the property, build it or to make improvements in it, as per the requirements of the borrower.

Obtaining a Certification of Eligibility for Tallahassee VA Home Loans

For the request of a Certificate of Eligibility, service men and women of the armed forces need to have completed specific time amounts of honorable service.

On the contrary, the requirement criteria for the spouses of veterans to obtain a mortgage is somewhat different. It includes:

• Spouses of veterans that are now deceased 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 those veterans who are alive but have been disabled during service.

If you think you might be eligible for a Tallahassee 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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