To qualify for a VA loan in Michigan, you must be an eligible veteran, active-duty service member, or surviving spouse with a valid Certificate of Eligibility. There is no minimum credit score set by the VA, though most lenders in Michigan require at least 620. You must also meet income requirements and plan to use the property as your primary residence.

For veterans with full entitlement, there are no VA loan limits in Michigan as of 2020. If you have remaining entitlement from a previous VA loan, county-based limits still apply. Most Michigan counties follow the conforming loan limit, though some high-cost areas have higher caps.

Yes, VA loans in Michigan allow you to purchase properties with up to four units, provided you occupy one of the units as your primary residence. This is an excellent strategy for veterans in Michigan who want to generate rental income while building equity. The rental income from other units may even help you qualify for the loan.

The VA funding fee in Michigan is the same as the national rate and varies based on your service type, down payment, and whether this is your first VA loan. First-time users with no down payment pay 2.15%, while subsequent users pay 3.3%. Veterans with service-connected disabilities are exempt from the funding fee entirely.

Yes, VA loan benefits can be reused multiple times in Michigan. If you have paid off a previous VA loan or sold the property and repaid the loan, your full entitlement is restored. Some veterans can even have two VA loans simultaneously if they have remaining entitlement, which is common when relocating within or to Michigan.

VA appraisals in Michigan are conducted by VA-assigned appraisers who evaluate both the market value and the property condition against VA Minimum Property Requirements. These appraisals tend to be more thorough than conventional appraisals and may flag issues like peeling paint, faulty wiring, or roof damage. If the appraisal comes in below the purchase price, you can negotiate with the seller or appeal the valuation.