VA home loans in Alpena, Michigan are incredible. But they can be very hard to get, because you have to meet a lot of requirements in order to qualify. Talk to a professional with Gem Home Loans and we’ll let you know if that’s possible. But if it’s not, don’t worry. There’s a very good chance we’ll be able to help you find another loan that will be perfect for your financial situation.
A lot of people assume that VA home loans come from the VA itself, or the Department of Veterans Affairs. It actually doesn’t work that way. If you get approved, the money will be coming from a mortgage lender, such as Gem Home Loans, or from a banking institution. The VA insures the loan against a default – up to a certain amount of money. If a borrower should default, the VA will pay the lender.
If you can meet the eligibility requirements, you’ll probably find it pretty easy to get a VA loan. Most people find it a lot easier than getting a so-called “conventional” loan. One of the biggest reasons is that lenders are more open to approving a VA loan, since the government will pay if a default occurs.
Just because it might be easier to get, however, you still have to be eligible. There’s a reason why these loans have such great terms – it’s because only so many people can get them.
First of all, the VA has to give you an eligibility certificate. You’ll have a pretty good chance to get one if you fall into one of the following categories.
There are other eligibility requirements you will likely have to meet as well. Again, a Gem Home Loans representative will be more than happy to spell them all out.
If you do qualify, you’re going to be able to enjoy some fantastic advantages. Here are just a few.
Talk to us to learn more about VA home loans in Alpena, Michigan. You can contact Gem Home Loans online or call (248) 780-1030.