Tag: buy a home

Michigan VA Home Loans

VA Loan Benefits for military veterans

VA Loans are mortgages guaranteed by the US Government for military members who have served our country. With no down payment required, VA Loans are one of the best loan options.

Underwriting requirements are flexible which allows for low credit scores and short wait periods after bankruptcy and foreclosure. We currently offer Zero Down VA loans with as low as a 580 credit score.

Military Veterans, Thank You For Your Service!

VA LOAN BENEFITS

Using VA financing, you can buy a house with no money out of pocket. Using a lender with no fees and negotiating to have the seller pay 3rd party closing costs, and prepaid can truly be a no cost purchase option. Other benefits include:

  • Low Rates
  • No down Payment Required
  • Fixed Rates
  • No Lender Fee Options
  • Easy Eligibility Requirements

RELATED: Use our VA Loan Calculator to estimate mortgage payments!

STEPS TO GET A VA LOAN

Once you have made the decision to use your VA Loan benefits to buy a home, you can use the steps below to buy a home!

  1. Call a Loan Officer to review VA Loan Requirements
  2. Request your Certificate of Eligibility from the VA (COE)
  3. Receive a VA Mortgage Pre-Approval from your Loan Officer
  4. Return Required Loan Documents to Complete Your Pre-Approval
  5. Search for a Home with a Local Realtor
  6. Submit Your Offer on a Home You Love
  7. Start the Mortgage Loan Process
  8. Get a Home Appraisal on The Home Through Your Lender
  9. Receive a Clear to Close from Underwriting
  10. Schedule the Loan Closing and Review Final Numbers
  11. Sign Loan Documents in from of a Notary
  12. Get the Keys to your Home!

Currently serving or a veteran? You are eligible for special mortgage benefits. Give us a call today at 800-555-2098 or request information below!

Request Information Now!

Pre-Approval Process to Buy a Home in Michigan

Pre-Approval for Michigan HomesPreviously we went over the process of picking the proper real-estate agent for your home hunting needs so the next step is to determine the best mortgage program.  Most people do not have thousands of dollars in savings to buy a home with cash so a mortgage will be necessary.  A statistic from the National Association of Realtors (NAR) is that 9-of-10 homebuyers purchase homes through a loan program so it is important to know what loans are available.

First we should probably explain what the term “pre-approval” means.  The process begins with you meeting a loan officer, which can help you determine what type of home you can afford.  It then continues onto a review of your credit files to ensure they are in good standing.  The loan officer will then determine which specific mortgage program is best for you.  From there you’ll receive a pre-approval certificate stating your maximum borrowing potential.  Riverbank Finance loan officer will assist you in shopping interest rates and closing costs with several banks at the same time.

Most people can get a loan, as long as they’re willing to pay high interest.  The key to connect yourself with a good mortgage company that can find a loan for your current situation that has the best terms and lowest cost.  This is where Riverbank Finance comes into play as we specialize in helping you determine the best possible loan options available.

If you are a first-time homebuyer or even a repeat homebuyer they you will need help with a pre-approval.  We can go through the process with you and answer any potential questions you may have about the pre-approval process.  Just fill out the email contact form below to get started.  You can also call us at 1-800-555-2098 and a loan officer will be in direct contact with you from the start of your loan to the closing.

Looking for Pre-Approval?

Request Information Now!