If you’re thinking of looking into VA home loans in Plymouth, Michigan, Gem Home Loans can help. We make it easy to find out what options are best for you, and we’ll always be available to answer any questions you may have. Gem Home Loans isn’t like an impersonal bank – we want what’s best for you and your family. Before you sign any kind of document, we’ll make sure you have all of the information you need to make the best possible choice.

Is a VA Home Loan the Right Decision?

VA Home Loans Plymouth, MichiganDetermining the best loan for your specific financial situation takes a lot of research. But for a lot of people, a VA loan is the perfect option. If you’ve served in the U.S. Armed Forces, a VA loan can deliver a lot of benefits. It’s much more affordable, and the terms are outstanding. Let’s take a closer look at why you might want to pursue a VA loan.

  • Credit score requirements – If your credit score isn’t quite where you want it to be, you might have a better chance at being approved for a VA home loan versus other kinds of loans. In fact, there’s technically no minimum credit score requirement. But, in reality, you probably need at least a 620 FICO score in order to get approval.
  • Private mortgage insurance – Since the U.S. government backs VA loans, you don’t have to have private mortgage insurance.
  • Costs – If you’re a veteran or an active member of the military, you might be able to obtain a new home without having to pay any sort of down payment. As a result, you can start building equity a great deal earlier. Also, you might be able to get into a home that you couldn’t otherwise afford. There are also some instances where the spouse of a member of the military might be able to get approved.

As you can see, there are a lot of advantages to obtaining a VA home loan. But that doesn’t mean this kind of program is for everyone. At Gem Home Loans, we’ll work closely with you to determine what kind of loan best suits your needs. Unlike many other types of lenders, we don’t try to convince our clients to go one way or another. We’ll spell out the pros and cons of all programs you’re considering, and then make a recommendation.

VA Home Loan Eligibility

It might seem pretty cut and dried as far as VA loan eligibility is concerned. But there are actually a lot of different factors that are taken into consideration. You have to have served for a certain amount of time to qualify. If you’re currently in the military, the amount of your service time will play a role in determining eligibility.

Gem Home Loans can go over everything with you so that you’ll know whether or not you’ll qualify. It could be the case that you’d be better off going through a more conventional option for financing your new home.

Get in Touch With Gem Home Loans for More Information

VA home loans in Plymouth, Michigan can provide a lot of advantages. Let the experts with Gem Home Loans help you decide whether you want to pursue one. Contact us online or call (248) 780-1030 to learn more.