Wellington VA Loans

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A Wellington FL VA mortgage is a mortgage issued by private lenders that are backed by the VA department so that the process of getting a home loan can become simpler for veterans. The money is then lent by the mortgage companies themselves but the guarantees from the VA help them in identifying reliable clients among the veterans.

Who is Qualified for a Wellington Florida VA Mortgage Loan?

There are four types of people who can request Wellington VA home mortgages. These are:

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

Eligibility Requirements for Wellington VA Mortgages

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

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

The guarantee by the VA loan in Wellington Florida is offered only when the home is for personal use of the client. However, the funds can be used to purchase the property, develop it or to make changes to it, as per the needs of the client.

Obtaining a COE for Wellington VA Mortgage Loans

For the request of a Certificate of Eligibility, service men and women of the armed forces and veterans need to have fulfilled specific time durations of honorable service. On the contrary, the requirement criteria for the spouses of veterans to obtain a mortgage is somewhat different. It consists of:

• Spouses of deceased veterans who have not remarried.
• Spouses of veterans who have gone missing in action or are prisoners of war.
• Spouses who remarried after reaching the age of 57.
• Spouses of vets which still alive but were disabled during service.

If you think you might be eligible for a Wellington Florida VA home mortgagecontact 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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