Best Mortgage Companies in Michigan

The best mortgage companies in Michigan, like Gem Home Loans, look at their clients as partners. They’ll never put their profits ahead of the people they serve, and they’ll always act in their clients’ best interests. The team at Gem Home Loans has helped thousands of people throughout the state, helping their dreams of home ownership come true. We would love the chance to do that for you. We’ll help you sort through all of your options, and only recommend the loan programs we thing will work for your specific financial situation.

VA Home Loans – Are They Worth Pursuing?

Make no mistake, VA home loans can be incredible – if you can qualify. Millions of people have used them over the years, and without this type of program that might not have been able to afford a home. Again, though, the key is being able to qualify – it’s usually not easy.

Actually, the only way you can even hope to get a VA loan is if you’re either a member of the military (active or retired), or you were married to a veteran who is now deceased. That’s about it. If you don’t fall into any of these categories, then you should look into some other kind of program.

However, it can even be hard to qualify if you’re a member of the U.S. Armed Forces. This is only a very brief look at the many eligibility requirements to be able to obtain a VA loan.

• If you’re not retired or active military, you have to be in the Reserves or the National Guard.
• You must have served for a specific amount of time if you have retired from a branch of the military.
• You have to have been enlisted for a certain amount of time if you are still active.

These just scratch the surface of what it will take for you to be able to pursue a VA loan. A Gem Home Loans representative will be more than happy to give you more information.

VA Loan Advantages

Because so few people can actually even think about pursuing a VA loan, you can imagine how fantastic the benefits can be. They include the following.

• If you don’t have a particularly high credit score, that probably won’t be an issue. There’s a very good chance you could qualify, even if your score leaves something to be desired. This is another area where a Gem Home Loans professional can give you more specific information.
• With most loans, you have to pay PMI, or private mortgage insurance. That won’t be an issue with a VA loan. PMI gets rolled into your monthly mortgage payment with a conventional loan, but not with VA loans. This could save you thousands of dollars in the long term.
• Another great thing about VA loans is that you probably won’t have to pay a dime for your down payment – unless you’re buying a home at a price that’s above market value, for whatever reason. With other loan programs, you’d have to pay at least 3 percent down – probably a lot more.

Let Gem Home Loans show you why we’re among the very best mortgage companies in Michigan. Use our online form or give us a call at (248) 780-1030.