VA Veterans Zero Down Home Loan
Get a great interest
rate with our Michigan VA Veterans Loan program. We can also
refinance your current Michigan VA Mortgage. Apply
online or call one of our Michigan brokers
toll free at 855-529-5222
If you have served
or are currently serving our country, a Michigan VA home mortgage
loan is perfect way to make a purchase with no down payment.
No money down 100% financing available for veterans.
private mortgage insurance (PMI) needed
do not have your income qualify
credit history is considered
can make a prepayment of the loan without penalty.
Seller may contribute up to 6% toward the closing costs.
Veteran must have certificate of eligibility from the Veterans
guaranteed home loans are made by private lenders, such as banks,
or mortgage companies to eligible veterans for the purchase
of a home which must be for their own personal occupancy. The
guaranty means the lender is protected against loss if you or
a later owner fail to repay the loan. The guaranty replaces
the protection the lender normally receives by requiring a down
payment allowing you to obtain favorable financing terms.
There is no maximum
to a Veterans Administration guaranteed home loan but lenders
will generally limit VA loans to $417,000. This is because lenders
sell VA loans in the secondary market, which currently places
a $417,000 limit on the loans. For loans up to $417,000, it
is usually possible for qualified veterans to obtain no down
a home and discuss the purchase with the seller or selling
agent. Sign a purchase contract conditioned on approval of
your VA home loan.
us and present us with your Certificate of Eligibility and
complete a loan application.
will develop all credit and income information. We will also
request VA to assign a licensed appraiser to determine the
reasonable value for the property. A Certificate of Reasonable
Value will be issued. Note: You may be required to pay for
the credit report and appraisal unless the seller agrees to
will let you know the decision on the loan. You should be
approved if the established value and your credit and income
(and spouse) attend the loan closing. We or closing attorney
will explain the loan terms and requirements as well as where
and how to make the monthly payments. Sign the note, mortgage,
and other related papers.
loan is sent to VA for guaranty. Your Certificate of Eligibility
is annotated to reflect the use of entitlement and returned
In addition to the
benefits found in above, the Veterans also have some great refinancing
options.The Interest Rate Reduction Loan (IRRL) makes refinancing
easy and affordable and we can help!
Get a lower interest rate
income or credit check to qualify
out is okay!
need to pay up front (closing cost can roll into the new loan)
in the mortgage lending industry, we've built our reputation
on providing outstanding service to our clients. This means
you can count on us to always look out for your best interests,
and to keep you informed throughout every step of the lending
process. Customer satisfaction is the cornerstone of our business.
We have cut out the middle man and the large corporate overhead
to bring you the best possible rates and lowest fees. Please
do not hesitate to call if you have questions about the information
you find here on our web site.