There are, as you’ll soon learn, a lot of benefits to getting VA home loans in Bloomfield Hills, Michigan. But even though you could enjoy a lot of advantages, it doesn’t automatically mean this will be the best option for you to pursue. At Gem Home Loans, we don’t try to influence our clients into getting a certain kind of loan. Some lenders will do that, but we don’t. We’ll work closely with you, telling you the pros and cons of different programs and giving you the information you need to make the best decision.
As long as you’re eligible to obtain a VA home loan (more on the eligibility requirements in a bit), you could reap some serious advantages. These are just a few of them.
Since the Veterans Administration guarantees VA home loans, lenders are typically very willing to provide them to clients. When someone defaults on this kind of loan, the government pays the lender rather than the borrower. As a result, lenders will usually approve VA loans at extremely favorable rates, and under extremely attractive terms.
The downside of trying to get a VA loan is that it can be really difficult to qualify. You have to not only meet the lender’s requirements, you have to be able to obtain a Certificate of Eligibility from the VA. You’ll probably need to fall under one of these categories in order to qualify.
These really just scratch the surface of VA home loan eligibility requirements. At Gem Home Loans, we’re experts in this kind of loan and will know whether or not you qualify.
A Gem Home Loans representative will be very happy to answer any questions you may have about VA home loans in Bloomfield Hills, Michigan. Just give us a call at (248) 780-1030 or get in touch with us by using our convenient online form.