VA Home Loans and Veteran Benefits in Michigan

By Michelle Gordon-Releford, REALTOR®, MRP

Buying a home is one of the biggest financial decisions most people will ever make. For veterans and military families, the VA home loan benefit can make homeownership more affordable. However, many eligible veterans do not fully understand the benefits available to them.

As a U.S. Army veteran and Military Relocation Professional (MRP), I am committed to helping veterans, military families, first-time homebuyers, and relocating families navigate the home-buying process with confidence.

What Is an MRP?

MRP stands for Military Relocation Professional.

This designation is awarded through the National Association of REALTORS® and provides specialized training on the unique housing needs of:

• Active-duty military members
• Veterans
• National Guard members
• Reserve members
• Military spouses

As an MRP, I understand many of the challenges military families face when buying, selling, or relocating.

How Can an MRP Help Veterans?

Military families often have housing needs that differ from civilian buyers.

An MRP can help veterans:

• Understand VA financing options
• Navigate relocation and PCS moves
• Connect with VA-experienced lenders
• Understand local veteran resources
• Evaluate housing options that fit their needs
• Navigate the home-buying process from start to finish

Additionally, an MRP understands military timelines and the challenges that can come with deployment, retirement, and relocation.

What Is a VA Home Loan?

A VA home loan is a mortgage program backed by the U.S. Department of Veterans Affairs.

The loan is provided by approved lenders, but the VA guarantees a portion of the loan. As a result, lenders can often offer favorable terms to qualified veterans.

Benefits of a VA Loan

Many veterans are surprised by the advantages of a VA loan.

Benefits may include:

No Down Payment

Qualified veterans can often purchase a home without making a down payment.

No Private Mortgage Insurance (PMI)

Unlike many conventional loans, VA loans typically do not require PMI.

Competitive Interest Rates

VA loans frequently offer interest rates that are competitive with other financing options.

Flexible Qualification Standards

VA loans may provide more flexibility than some conventional loan programs.

Limited Closing Costs

The VA limits certain fees that veterans can be charged during the transaction.

Common VA Loan Myths

Myth #1: VA Loans Are Difficult to Use

Many real estate professionals and lenders work with VA loans regularly. The process is often straightforward when you have the right team.

Myth #2: You Can Only Use Your VA Benefit Once

Many veterans can use their VA loan benefit multiple times during their lifetime.

Myth #3: Only Retired Service Members Qualify

Many active-duty members, reservists, National Guard members, and veterans may qualify for VA loan benefits.

What Is a VA Appraisal?

A VA appraisal helps determine two important things:

1. The home’s market value.
2. Whether the property meets VA Minimum Property Requirements (MPRs).

The appraisal is different from a home inspection.

While an appraisal focuses on value and safety standards, a home inspection provides a more detailed evaluation of the property’s condition.

What Are VA Minimum Property Requirements?

MPR stands for Minimum Property Requirements.

These standards help ensure that the property is:

• Safe
• Structurally sound
• Sanitary

Examples of potential concerns include:

• Missing handrails
• Electrical hazards
• Roof issues
• Peeling lead-based paint
• Significant safety hazards

Because of these requirements, some homes may need repairs before a VA loan can close.

Michigan Benefits for Disabled Veterans

Michigan offers valuable benefits for many qualifying disabled veterans.

One of the most significant benefits is the Disabled Veteran Property Tax Exemption. Veterans who meet eligibility requirements may qualify for a property tax exemption on their primary residence.

Additionally, some surviving spouses may also qualify under certain circumstances.

Veterans should consult their local assessor’s office or county veterans service office for current eligibility requirements.

Steps to Use Your VA Benefit

First, obtain your Certificate of Eligibility (COE).

Next, speak with a lender who has experience with VA loans.

Then, get pre-approved so you understand your purchasing power.

After that, begin your home search and make an offer on a property that meets your needs.

Finally, complete the appraisal, inspections, and closing process.

Ready to Learn More?

As a U.S. Army veteran and Military Relocation Professional, I understand the importance of having a trusted advocate during the home-buying process.

Whether you are purchasing your first home, relocating to Michigan, or preparing to sell, I would be honored to help.

Michelle Gordon-Releford, REALTOR®, MRP
ERA Reardon Realty

Helping Veterans, Military Families, First-Time Homebuyers, and Relocating Families Navigate Michigan with Confidence.