The benefits of VA home loans in Bay City, Michigan are numerous – to say the least. At the same time, though, that doesn’t automatically mean that it will be right for you. Like any kind of loan, a VA home loan can get pretty complex, and pretty confusing as a result. But an expert with Gem Home Loans can help you navigate the complexities, and make sure you’re completely informed. We’ll make sure your final decision – whatever kind of loan it might be – is the best for the financial situation of you as well as your family.

Is a VA Home Loan the Right Choice?

VA Home Loans Bay City, MichiganThere are a lot of reasons to pursue a VA loan – that is, if you’ve serving in a U.S. military branch, or you were married to a veteran who is now deceased. It could be a fantastic choice, one that could help you get into the home of your dreams. If you’re eligible, it’s a really affordable loan. But there are a lot of other advantages as well. Here’s a brief look at a few of them.

  • Conventional loans require borrowers to pay PMI, or private mortgage insurance. Over the life of those loans, PMI payments can easily reach into the thousands of dollars – possibly even the tens of thousands of dollars. But since the Department of Veteran Affairs backs VA loans, borrowers don’t have any PMI payments.
  • You can get a VA loan even if you don’t have a fantastic credit score. However, that doesn’t mean you can get one with a really low score. In most instances, you’ll need to be at 620 or higher to be able to get approved.
  • As long as you aren’t planning to purchase a home for more than the appraised value, you won’t have to put a dime down. You can use that money to start building equity faster as a result. This will also help you potentially get into a home that might have been out of reach.


Maybe the only downside of the VA loan program is that’s very hard to qualify. That’s one of the reasons the terms are so excellent, because not that many people are eligible. VA loans have been around since the 1940s, and they’ve helped millions of people. The benefits never expire, either. You could have served 60 years ago and still be eligible.

If you didn’t serve, however, you’ll have to look for another kind of loan – unless you’re the spouse of a veteran who has passed away, as mentioned earlier. Even if you served, you will have to have done so for at least 90 days straight during wartime, and at least 181 consecutive days during peacetime.

But these really just scratch the surface of the eligibility requirements. Talk to a professional with Gem Home Loans and we’ll let you know if you can pursue a VA home loan. But even if you can’t, we’ll still work with you to find another option.

We’re Ready to Talk

If you would like more information on eligibility requirements for VA home loans in Bay City, Michigan, the experts with Gem Home Loans are ready to help. Just give us a call at (248) 780-1030, or use our convenient online contact form whenever you like.