West Palm Beach VA Loans

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A West Palm Beach FL VA mortgage loan is a home 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 simpler for veterans. The funds are lent by the mortgage lender themselves but the guarantees from the VA help them in identifying reliable clients among the veterans.

Who is Qualified for a West Palm Beach VA Home Mortgage?

There are four kinds of people who can apply for West Palm Beach FL VA home mortgages. These are:

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

Eligibility Requirements for West Palm Beach VA Mortgages

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

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

The VA-guaranteed home loan is offered only when the house is for personal use of the borrower. However, the funds can be used to buy the home, develop it or to make changes to it, as per the requirements of the client.

Obtaining a COE for West Palm Beach VA Home Loans

For the obtainment of a Certificate of Eligibility, in-service members of the armed forces need to have fulfilled specific time durations of honorable service.

On the contrary, the requirement criteria for the spouses of vets to obtain a mortgage loan is slightly different. It includes:

• Spouses of deceased veterans who have not remarried.
• Spouses of veterans who have gone missing in action 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 West Palm Beach FL VA loanscontact 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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