If you’ve been shopping around for a mortgage, you’ve probably seen a lot of claims that a certain provider is the best mortgage company in Berkley, Michigan. That’s a pretty bold statement – one that isn’t really that easy to back up. At Gem Home Loans, however, we can back up that claim. We’ve provided thousands of people with mortgages over the years, and we always go the extra mile. What does that mean? We make sure everyone is completely confident in their decision – we don’t try to force anyone into a certain kind of loan because it will make us a huge commission.

VA Loans – Are They Worth Looking Into?

Best Mortgage Company Berkley, MichiganVeterans Administration (VA) loans have been providing outstanding benefits for several decades – going all the way back to the 1940s. As a result, millions of people have been able to purchase homes that might have otherwise been out of their budget.

But even though this is an outstanding home loan program, it’s very hard to qualify. You have to either be retired or actively serving in one of the branches of the U.S. military. If you’re the spouse of a veteran who has passed away, there’s a chance you may be able to qualify as well.

However, there are some complexities involved in the VA program. One is that you might not automatically qualify even if you’re in the military. Here’s what we mean.

  • You must have served in the military for a certain amount of time if you are retired.
  • You also have to have served for a specific time period if you’re still active.
  • You might be in between. You might not be active, but you’re not retired, either. If that’s the case, then you either have to be in the National Guard or Reserves.
  • The only way you can qualify if you haven’t ever served in the military, you have to be the spouse of a veteran who has passed away.

This is only a brief look at some of the many eligibility requirements involving VA home loans. If you would like to learn more, just speak with a Gem Home Loans representative. We’ll be more than happy to clear everything up.

Why are VA Loans so Popular?

As you might expect, there are a lot of reasons why so many people have turned to VA loans over the years. Here are some of the most important ones.

  • You don’t have to have fantastic credit to get excellent rates. A Gem Home Loans professional will give you specific information about what kind of credit score you’ll need in order to qualify.
  • Another huge benefit is that you won’t have to deal with private mortgage insurance, or PMI. That’s not the case with a conventional loan, where you would have to pay PMI as part of your mortgage payment each month.
  • Yet another reason people love VA loans is that they don’t have to put anything down – not a penny – as long as you’re not paying more than market value for the home you’re buying. With most other loan programs, you’ll have to pay at least 3 percent – maybe 10 percent or even more.

Please get in touch with Gem Home Loans so we can prove why we’re the best mortgage company in Berkley, Michigan. You can give us a call at (248) 780-1030 or use our online form.