Every mortgage company should claim to be the best mortgage company in Novi, Michigan. If they didn’t think they were the best, then they shouldn’t be in business. But at Gem Home Loans, we have years of experience and a track record of making clients’ dreams come true. Thousands of them would say we’re actually the best – and it’s not really even close. We can show you a wide variety of loan programs, and recommend the one that makes the most sense for your specific financial situation.

Is a VA Home Loan Worth Exploring?

Best Mortgage Company Novi, MichiganA VA (Veterans Administration) home loan can deliver outstanding benefits. The program started in the 1940s, and has helped millions of people get into homes they otherwise probably wouldn’t have been able to afford.

But it can be very hard to qualify for a VA loan. Unless you’re an active or retired member of a branch of the US Armed Forces, or, a spouse of a deceased veteran, you’re not going to be able to participate in the program. Even if you’re in the military, that doesn’t automatically mean you’ll qualify. Here’s just a brief look at the program’s eligibility requirements.

  • If you’re a retired member of the military, you have to have served for a certain time period.
  • If you’re active, you will need to be enlisted for a specific amount of time.
  • If you’re not retired military, yet you’re not actively serving, you have to be a member of the National Guard or the Reserves.
  • If you’ve never been in the military, then you have to be the spouse of a deceased veteran.

Again, this is just a very quick look at some of the eligibility requirements. A professional with Gem Home Loans can tell you much more.

Huge Advantages

If you do qualify for a VA loan, you’re going to enjoy benefits that you might not have thought were possible through a home loan program. These are just a few of them.

  • Credit – For most programs, you have to have sterling credit in order to find the very best rates. That’s not the case if you’re eligible for a VA loan. One of our team members can tell you more about what kind of credit score you’ll need in order to find a home through the VA program.
  • PMI – Once you’re approved for a VA loan, one of the biggest advantages is that you won’t have to deal with PMI (private mortgage insurance). If you pursue a conventional loan, PMI will be included in your monthly mortgage payment. That could mean you’d be paying thousands of dollars over the life of the loan. That won’t be a consideration with a VA loan.
  • No down payment – This is obviously huge. With a VA loan you won’t have to put a penny toward a down payment – as long as the price you’re paying for the home isn’t above its market value. Other programs will require anywhere from a 3-10 percent down payment. Some programs require even more.

At Gem Home Loans, we’re ready to show you why we truly are the best mortgage company in Novi, Michigan. If you would like us to prove it to you, we’ll be happy to do so. Get started by contacting us online or calling (248) 780-1030.