Michigan VA Loans

VA Mortgage Loans in Michigan

At Locked-IN Lending, LLC, we truly respect and honor those who have served our country. Veterans, active military, and their families have access to VA loans. VA loans are mortgage loans specifically created for these individuals. Though offered through private lenders, they are guaranteed by the Department of Veteran Affairs (VA), making it a fantastic program for those who qualify. We can get you into your home Macomb County, Oakland County, and all of Southeast Michigan.

To qualify for a VA loan in Michigan, you must present the lender a certificate of Eligibility includes most veterans, active military, reservists, and National Guard members. Spouses of military members who have died while on active duty or suffered a service-connected disability are also eligible.

VA Loan Features

• Veterans can use their benefit multiple times
• May require no down payment (100% financing of home)
• Lower interest rates than traditional mortgages
• Reduced fees
• No private mortgage insurance (PMI) is required
• Use for purchase or refinance
• Requires a minimum FICO credit score of 580
• 15 and 30 year fixed rate loans are available
• Available for first time homebuyers
• There are flexible eligibility requirements
• No processing fee is charged
• Allows for higher debt-to-income ratios

Basic Service Requirements for VA Mortgages

• At least 90 days of consecutive days on active duty during wartime
• At least 181 days of continuous active duty during peacetime
• Completed a total of 6 years in the Selected Reserves or National Guard