West Palm Beach VA Loans

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A West Palm Beach FL VA mortgage is a loan offered by private lenders that are backed by the Department of Veteran Affairs (VA) so that the process of getting a mortgage can become simpler for veterans. The money is then lent by the lenders themselves but the guarantees from the VA help them in identifying reliable borrowers among the veterans.

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

There are four kinds of people who can request West Palm Beach FL VA home loans. These are:

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

Qualifying Requirements for West Palm Beach VA Mortgages

Not every veteran qualifies for a VA mortgage loan. In order to be eligible, veterans require:

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

The VA-guaranteed mortgage is offered only when the house is for individual use of the borrower. However, the money can be used to buy the house, build it or to make changes to it, as per the needs of the borrower.

Gathering a Certification of Eligibility for West Palm Beach VA Mortgages

For the obtainment of a COE, service men and women of the armed forces need to have fulfilled specific time amounts of service.

On the other hand, the requirement criteria for the significant others of veterans to get a mortgage is somewhat 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 might be 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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