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Cranbrook Loans Zero Down VA Home Loan Specialists 866-421-2821 |
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We have been serving Michigan Veterans including Sterling Heights, Clinton Twp and Macomb with VA loans for over 20 years.
We take pride in serving the Veterans who have served us!
The main purpose of the VA Home Loan Program is to provide veterans with favorable financing terms for the purchase of a home. Here are some of the benefits of a VA Home Loan.
After speaking with other #Veterans who came to us for a home mortgage, We've found a great many didn't realize that Veterans can qualify for for a home mortgage with ZERO money down and no private mortgage insurance. Men and women who served both active duty and in the reserves may qualify. Some down payment assistance may be available to help pay for closing costs. A veteran may be able to get into a home with as little as 1% out of pocket! Please share this to help bring awareness to the brave men and women who have served, the great features a #Veteranloan has and how it may help them get into a new home! http://www.veteransloanmichigan.com/
Zero Down Payment or 100% loan to value. Most loans require a down payment to lessen the risk to the lender.
Easier credit qualifying. VA home loans have easier requirements for credit qualifications. Veterans who have had credit issues such as late payments have to show 12 months of continuous payments without being late to reestablish a history of timely payments to show credit worthiness. In cases of no credit history the borrower only has to show a history of timely payments on things such as rent, utilities, cable etc. Many Veterans have suffered bankruptcies, foreclosures. or short sales during the recession. In these situations only 2 years have to of pass to qualify for a VA loan.
NO Private Mortgage Insurance (PMI). Most loans require PMI when the borrower puts less than a 20% down payment. PMI is an insurance program that protects the lender against default. This would result in a higher payment for the borrower. VA loans DO NOT require PMI.
Down Payment Assistance Available. There are down payment assistance programs available that the veteran may qualify for to help pay for the closing costs that have to be paid to the lender to close the loan.
4% seller concessions. The seller can contribute up to 4% of the purchase price to help pay for closing costs and pro-rations to establish an escrow for taxes. This may allow you to purchase a home with no money out of pocket other than the cost of the appraisal.
To find out what you would qualify for for your VA Home Loan fill out the form below and Greg Kitchen a VA Home Loan Specialist will contact you, or call 866-421-2821
Not a Veteran? Visit Cranbook Loans here for more great mortgage options!
Cranbrook Loans NMLS# 1221113 41800 Hayes Rd, Clinton Twp Mi 48038
586-649-2600 Fax: 586-649-2319 E-mail: [email protected] Greg Kitchen NMLS# 166067
586-649-2600 Fax: 586-649-2319 E-mail: [email protected] Greg Kitchen NMLS# 166067
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