VA Loan Michigan | Extreme Loans

Q: What is the VA funding fee?

The VA funding fee typically ranges from 1.25% to 3.3% of the loan amount. Veterans with a service-connected disability rating may be exempt.

Extreme Loans is proud to serve Michigan’s veterans, active-duty service members, and military families. As a licensed Michigan VA loan lender (NMLS #2025962), we help eligible borrowers buy or refinance with zero down payment, no private mortgage insurance, and some of the most competitive rates available. Our Extreme Mortgage Bankers know the VA loan program inside and out — and we close fast.

Check Your VA Eligibility

VA Loan Benefits for Michigan Veterans

The VA loan is one of the most powerful mortgage programs available — and it is exclusively for those who served. Here is what makes it exceptional:

No down payment required: Purchase a home in Michigan with $0 down
No private mortgage insurance (PMI): Save hundreds per month compared to FHA or conventional loans
Competitive interest rates: VA loans consistently offer lower rates than conventional loans
No minimum credit score from the VA: We work with scores starting at 550
Higher DTI flexibility: VA allows debt-to-income ratios up to 60% in some cases
Reusable benefit: You can use your VA loan benefit multiple times
VA IRRRL: Streamlined refinance option for existing VA loan holders

Who Is Eligible for a VA Loan in Michigan?

VA loan eligibility is based on your military service history. You may qualify if you are:

A veteran with qualifying active duty service
Currently serving on active duty (after at least 90 continuous days)
A member of the National Guard or Reserves (with qualifying service)
An eligible surviving spouse of a veteran who died in service or from a service-connected disability

Not sure if you qualify? Call Extreme Loans at 844-CLOSE-FAST and we will check your eligibility at no cost — no commitment required.

VA Loan Requirements

Certificate of Eligibility (COE): Required to confirm VA benefit eligibility — Extreme Loans can obtain this on your behalf
Primary residence: VA loans are for owner-occupied homes only
VA funding fee: A one-time fee (typically 1.25%–3.3% of the loan amount) that can be rolled into the loan. Some veterans are exempt based on disability status
VA appraisal: The home must meet VA Minimum Property Requirements (MPRs)
Sufficient income: VA uses a residual income standard in addition to DTI

VA IRRRL — Refinance Your Existing Michigan VA Loan

Already have a VA loan in Michigan? The VA Interest Rate Reduction Refinance Loan (IRRRL) is the fastest way to lower your rate with minimal paperwork, no new appraisal in most cases, and no out-of-pocket costs if you roll the funding fee into the loan. Extreme Loans specializes in VA IRRRL and can typically close these in under 14 days.

Michigan Cities Where We Help Veterans Buy Homes

We serve VA loan borrowers throughout Michigan — including Metro Detroit (Dearborn, Warren, Sterling Heights, Taylor), Grand Rapids, Ann Arbor, Lansing, Flint, Saginaw, Traverse City, and all communities near Michigan’s military installations including Selfridge Air National Guard Base.

Frequently Asked Questions: VA Loans in Michigan

Do I need a down payment for a VA loan in Michigan?

No. Eligible veterans and service members can purchase a home in Michigan with zero down payment. This is one of the most significant benefits of the VA loan program.

Is there a VA loan limit in Michigan?

As of 2020, VA loan limits were eliminated for veterans with full VA entitlement. If you have never used your VA benefit, or have paid off a previous VA loan in full, you can typically borrow above the conforming loan limit with no down payment.

How do I get a Certificate of Eligibility (COE) in Michigan?

Your Extreme Mortgage Banker can obtain your COE directly through the VA’s system on your behalf — you do not need to get it yourself before applying.

Can I use a VA loan to buy a multi-unit property in Michigan?

Yes. VA loans can be used to purchase up to 4-unit properties as long as you live in one unit as your primary residence.

What is the VA funding fee?

The VA funding fee is a one-time fee paid to the VA that helps sustain the loan program. It typically ranges from 1.25% to 3.3% of the loan amount depending on your service type and whether it is your first VA loan use. Veterans with a service-connected disability rating may be exempt.

How fast does Extreme Loans close VA loans in Michigan?

Our average close time is 14 days from application to closing. VA loans require a VA appraisal which can add a few days, but we coordinate aggressively to keep timelines tight.

Start Your Michigan VA Loan Today

You served. Now let us serve you. Apply online or call 844-CLOSE-FAST — an Extreme Mortgage Banker will walk you through your VA eligibility and loan options at no cost and no obligation.

Apply Now Call 844-CLOSE-FAST

Extreme Loans | NMLS #2025962 | 29444 Northwestern Hwy. Ste. 100, Southfield, MI 48034 | Equal Housing Lender