Mortgage Company St. Joseph, Michigan

Some people can find it intimidating working with a mortgage company in St. Joseph, Michigan. If you’re in this boat, that’s completely understandable – especially if you’re a first-time home buyer. But if you work with the professionals at Gem Home Loans, you won’t have to feel that way. We will do everything we can to make the experience stress-free, taking the time to explain all of your loan options so that you can make the best possible choice.

There are a lot of loans out there – some you might not have even considered. A VA loan is one of them. Here’s a little bit of information on how it works.

VA Home Loans – Can You Get One?

Home loans from the VA (Veterans Administration) have helped millions of people over the last 80 years. People love them – and for good reason. VA home loans have helped them get homes that they might not have otherwise been able to afford.

These loans are incredible. They’re also hard to qualify for, as you might expect. But if you can, you’ll reap a whole lot of benefits. These are just a few to keep in mind.

• You won’t have to pay private mortgage insurance (PMI) with a VA loan. That’s enough of a reason right there to look into it to see if you’re eligible. If you get a conventional loan, you’ll have to pay PMI, of course – and this can cost thousands of dollars over the life of that loan.
• You don’t have to have a sterling credit score to get a VA loan. That’s not necessarily the case with conventional loans. While you might not need a perfect credit score, if yours isn’t pretty high you’ll have to pay more in interest. That’s not a problem with a VA loan. We can tell you more about what score you would need.
• Finally, and maybe most importantly, you won’t have to come up with a down payment. Yes, you won’t have to pay a penny. With some loans, you’d have to come up with at least 3-10 percent of the purchase price of the home. In some cases, you’d have to fork over more like 20 percent.

Can You Qualify?

Again, since the benefits of a VA loan are so good, qualifying can be extremely hard. Even if you have military service, that doesn’t automatically mean you’ll be eligible. But if you’re in one of the following categories, you may be.

• You’re a retired military member who served for a certain time period.
• You’re still in the military, and you’ve served for a specific amount of time.
• You’re not retired and you’re not active, but you’re in the National Guard or Reserves.
• You’re the spouse of a deceased veteran.

This is obviously a very quick, general look at VA loan qualification requirements. Get in touch with Gem Home Loans and we’ll give you all of the details.

We’re Ready to Help

At Gem Home Loans, we want you to be completely at ease when working with our mortgage company in St. Joseph, Michigan. You won’t feel any pressure, and we’ll always be looking out for you and your family’s best interests. If you would like to speak with one of our friendly representatives, please call (248) 780-1030 or use our online contact form.