Active duty and Veterans Affairs Mortgage loan requirements in Tampa FL, St Petersburg Fl and St Pete Beach FL are the same as other states. There are eligibility requirements that are related to the time you’ve served and other, more general requirements such as fees and residential requirements. For those who are VETERAN and or ACTIVE DUTY SERVICE eligible, these loans are attractive because they don’t usually require a down payment. Furthermore they also have lower interest rates than many other types of mortgage loans you can get for similar terms. In addition they don’t have monthly mortgage insurance.

Consequently VA Mortgage loans have more lenient credit requirements than many other mortgage programs. That means qualifying for one should be easier, even if you have a poor credit history or small down payment.

Finally that being said, if you served the ARMED FORCES may qualify for a VA LOAN. You must have at served in at least one of the following capacities serving our country.

• You served 181 days of active service during peacetime.
• Have served 90 consecutive days of active service during wartime.
• You’ve served more than 6 years of service with the National Guard or Reserves or 90 days under Title 32 with at least 30 of those days being consecutive.
• You’re the spouse of a service member who lost their life in the line of duty or as the result of a service-connected disability. You generally cannot have remarried, although there are exceptions, as well as other requirements for a spouse getting a Mortgage loan.