Veterans homelessness is a problem in the United States and was addressed by the Department of Veterans Affairs and Department of Housing & Urban Development more than seven years ago. One of the major solutions to resolve the issue was to provide funding to support programs, such as Supportive Services for Veteran Families (SSVP). If you are a veteran, service member or surviving spouse residing in Florida and receives monthly income, the U.S. government offers programs through approved lenders and mortgage finance companies.
The first place to start is to contact a trustworthy mortgage financing services provider that offers VA loans. Flagship Financial, a Florida-based mortgage finance company offers services for financing, refinancing, and real estate services. The homeless rate dropped by 47 percent and approximately 360,000 American veterans and family members successfully received permanent housing and rehousing, in 2010. Great news is SSVP was awarded an estimated $300 million in additional funds to help veterans and families.
The funds will help thousands of veteran families with low income purchase their first home or return to the housing market. VA Mortgage Program is guaranteed by the Department of Veteran Affairs if the applicant complies with required guidelines and limitations of loan. SSVP Program is created to continuously address homeless and low-income veterans and their family members.
If you are a veteran, service member or surviving spouse of a veteran, the requirements are the following:
– Appropriate credit,
– Satisfactory income,
– Meet eligibility to receive Certificate of Eligibility (COE), and
– Be an occupant of the prospective home
To receive COE, the individual must be an active service member or National Guard & Reserve member, Public Health Service officer, or a U.S. Air Force, Coast Guard Academy, or Military cadet. National Oceanic & Atmospheric Administration officers and U.S. Naval Academy midshipmen are also eligible for COE.
Other COE requirements include meeting wartime & peacetime periods, active duty date, and minimum active duty service. Individuals who were dishonorably discharged from the military are ineligible to receive a VA loan. VA loans can be used to purchase, build or improve a home; or to buy a manufactured home in Florida.
Flagship Financial has VA Mortgage solutions to refinance and finance mortgages. Their professional loan officers have real estate finance expertise and years of experience in the mortgage lending industry. Contact a loan officer to learn more about the Veteran’s Administrative Mortgage services.
The mortgage financing company is one of the leading providers of lending services and employs professionals to fund, underwrite and close VA mortgage loans. Most VA loans require zero down payments upon approval with a fixed rate or through an ARM program.