The Ultimate Guide to VA Home Loans in Michigan (2026)
You served your country. This is your country saying "Thank You."
The VA Home Loan is arguably the most powerful wealth-building tool available to Americans today. But it is also surrounded by myths, bad advice, and lenders who don't understand the rules.
Since 2009, KNE Realty 360 has helped hundreds of military families in Southeastern Michigan stop renting and start owning. We are a veteran-focused business, recognized by Google for our commitment to the military community.
We created this guide to help make it as clear and stress-free as possible to understand how the VA Home Loan works, and how you can take advantage of it.
What Exactly IS the VA Loan?
Let's clear up a common misconception: The Department of Veterans Affairs does not lend you money.
Instead, they act as the insurer. You still get your loan from a private bank or mortgage lender. The VA simply "guarantees" a portion of that loan — typically 25%.
Because the government is backing you, the lender faces less risk. That means they can offer you terms that civilians simply cannot get.
The "Big Three" Benefits of VA Loans:
- 0% Down: There is no down payment required on your purchase. Conventional buyers usually need 5-20% down.
- Lower Interest Rates: VA loans consistently offer rates 0.25% to 0.50% lower than conventional mortgages.
- No Private Mortgage Insurance: Normally, buyers have to pay PMI until they build equity. Being able to skip this saves you hundreds of dollars every month.
VA Loan Walkthrough
We’ve broken down the details into three specific parts. If you like to do your own research, this is for you.
💰 Costs & Fees
Zero down saves you a lot of money, but not everything is free. We break down the Funding Fee, residual income, and the hidden cash you actually need upfront.
✅ Eligibility Rules
See loan requirements for Veterans, Active Duty, National Guard, information about buying New Construction with a VA loan, and more.
🤝 Finding a Good VA Specialist
Why you need a "VA Specialist" (surprisingly, many agents don’t have experience with VA loans) and why their service costs you $0 out of pocket.
Common Questions
Should Every Veteran Use a VA Loan?
Believe it or not, no.
While it is the best choice for 90% of veterans, there is one specific scenario where a Conventional Loan might be better: If you have 20% cash for a down payment AND a credit score over 740.
With 20% down on a conventional loan, you avoid PMI anyway. If you use a VA loan, you might still get hit with the Funding Fee (unless you’re exempt). In this rare case, the conventional loan might actually come out to be cheaper.
Not sure? We have people who can run the numbers for you.
How Long Does it Take to Close?
There’s a myth that VA loans take forever, and it hasn’t been true for a long time. Today, you can look at it about the same way as any other loan: 24-48 hours for Pre-approval, then 30-45 days to close.
This is almost identical to the timeline for FHA or Conventional loans. If a seller tells you "VA loans take too long," they are operating with outdated information. We handle these all the time, we know how to correct them and get your offer accepted.
Ready to Stop Renting?
The first step isn't looking at houses. It's finding reliable people to work with. We can connect you with trustworthy Michigan VA lenders and get you started today.