VA Loans in Michigan and Around the Country

If you want to buy a home as a veteran, active duty service member, or eligible surviving spouse, did you know that the VA loan program is an option?

Through this program, you can move into a home right now with no down payment.

Applying is fast and easy with MMS Mortgage Services, Ltd. on your side.

What is a VA Mortgage?

A VA mortgage is one that features backing from the US Department of Veterans Affairs.

Insuring your loan is one way the VA repays you for your service; it counteracts risk factors in your borrower profile such as an imperfect credit score. Qualify for a VA loan with credit scores from 580+.

This means that mortgage lenders are free to offer you affordable rates and other excellent features and benefits.

Benefits of a VA Home Loan

Here are some of the advantages of a VA mortgage:

• Have you been putting off buying a home while you save up for a down payment? Buy a home in any state with zero down using a VA mortgage.
• No form of mortgage insurance is required with a VA loan, which can make it even more affordable than an FHA mortgage.
• You can qualify for a VA mortgage and receive a loan with affordable rates without a perfect credit score.
• The closing costs for a VA mortgage are capped at 3%. The seller can pay them for you.
• If you are an eligible disabled veteran, the funding fee can be waived.
• You do not need to get an appraisal when you refinance with this type of home loan unless discount points are charged.

Eligibility for a VA Mortgage

How do you know if you qualify for a VA loan? The basic eligibility requirements for this type of mortgage are as follows:

• Any of the following describes you: veteran, active-duty service member, or eligible surviving spouse.
• You meet the minimum service requirements.
• The home you are buying is your future primary residence.
• You are able to obtain a Certificate of Eligibility (COE).
• Your credit score, debt-to-income ratio, and income all are within the required thresholds.

What is the minimum service requirement for a VA mortgage? 90 days of active duty wartime service or 181 days of continuous active duty peacetime service meet this requirement for most periods of duty. For other duty eras, however, there are other requirements.

When you apply for a VA mortgage with MMS, we can help you determine the requirement for the era in which you served, and whether you meet it.

We also are able to retrieve your Certificate of Eligibility.

Buy a Home With Zero Down With a VA Loan Now

Moving into your own home with an affordable mortgage and zero down is closer than you think. To find out if you qualify for a VA loan now, please call (248) 788-0800 or toll free at (800) 945-4506 then press 2, to schedule your free consultation.

We are based in Michigan, but we are also licensed in Alabama, Colorado, Connecticut, Florida, Indiana, Iowa, Kentucky, Louisiana, Massachusetts, Michigan, New Hampshire, North Carolina, Ohio, Pennsylvania, Rhode Island, and Tennessee. We can help you apply for a VA mortgage in any of those states.