If you are a Veteran or current member of the armed services there is a great loan program that you can take advantage of. This mortgage program is called the VA Loan. This loan is extremely popular due to its low interest rates, agreeable terms, and the fact that there is no required down payment. This loan is especially popular with first time home buyer veterans although it is not limited to first time buyers.
Recent Federal changes have even lessened the eligibility requirements for the veteran’s loan. The maximum loan amount is $417,000 for those who qualify and the loan can close in under 30 days under normal conditions.
Similar to other loan types the VA loan can be refinanced if rates drop in the future. These features along with others make the VA loan a great program for veterans who are looking to enter home ownership in Grand Rapids and across West Michigan.
Not a veteran? Check out our RD loan program which also features a zero down payment option.
*Not all borrowers will qualify, please contact us for more information on rates and terms 616-774-9160