As a top benefit of military service for eligible veterans, service members, and surviving spouses, you can access a low-cost mortgage and pursue your dream of homeownership.
A VA loan is a government loan backed by the Department of Veteran Affairs (VA) and issued by a lender or bank. Due to their lenient credit requirements, VA loans in Michigan are considered ‘non-conforming’ and offer several benefits to active-duty military members, veterans, and surviving spouses.
Due to a home loan program instated after World War II, military personnel has an opportunity to get back to civilian life by purchasing a home through the VA. Here are a few benefits included in the program:
VA mortgages are desirable for military members due to the no downpayment, lower interest rate, and lenient credit requirements. Here’s how you qualify: