Michigan VA Loans
If you’re a veteran, active-duty military personnel, or a surviving spouse, you may be eligible for a VA home loan in Michigan. VA loans are one of the best mortgage options available, as they offer low interest rates, no PMI, and no down payment requirements.
So, whether you’re looking for a cabin in the U.P., a house around the Detroit suburbs, or anywhere in between, using your well-deserved VA home loan benefits can help you finance your home. We’ll cover the eligibility requirements, the application process, and the benefits of using a VA loan to buy a home in Michigan.
Since the average listing price of a home in Michigan is $340,088. With the VA loan’s signature $0-money-down benefit, this presents a considerable advantage for military-related homebuyers.
How to get a VA Loan in Michigan
While VA loans are guaranteed by the Department of Veterans Affairs, they are made through private lenders. Because of this, you will need to find a lender who is licensed in the state in which you plan to purchase or refinance your home.
For example: If you want to buy a house in Grand Rapids, Michigan, then you will have to look for a lender who is licensed under Michigan law.
Check Your Eligibility!
Fill out the questionnaire on this page to start a discussion about your mortgage needs today!
Other Considerations for Getting a VA Loan in Michigan
VA borrowers in Michigan should also consider the cost and impact of VA loan limits and property taxes when making their home purchase.
Michigan VA Loan Limits
As of January 1, 2020, VA borrowers in Michigan with their full VA loan entitlement are not restricted by VA loan limits. This means you can borrow as much as a lender is willing to lend without needing a down payment.
However, veterans without their full VA loan entitlement are still bound to Michigan’s VA loan limits.
For most lenders the VA loan limits for all counties in Michigan are $647,200 and will be $714,000 beginning on January 1, 2023, but Six Pillar Lending works with lenders willing to loan up to $2 million and higher with some additional requirements.
Property Taxes in Michigan
Another consideration for VA buyers in Michigan is property taxes. For certain VA buyers, there are exemptions.
You may be eligible for a property tax exemption in Michigan if you meet one of the following conditions:
- A disabled veteran may receive a full exemption if the veteran is 100 percent disabled as a result of service
- The state offers a homestead tax credit and property tax relief for active military personnel
- If you are required to pay property tax in Michigan, the American Community Survey by the U.S. Census Bureau estimates you may pay the following in each county:
| County | Median Annual Real property Tax Payment | Average Effective Real property Tax Rate |
| Alcona | $1,103 | 1.15% |
| Alger | $1,336 | 1.12% |
| Allegan | $2,057 | 1.37% |
| Alpena | $1,276 | 1.36% |
| Antrim | $1,613 | 1.06% |
| Arenac | $1,345 | 1.51% |
| Baraga | $1,468 | 1.58% |
| Barry | $1,903 | 1.30% |
| Bay | $1,811 | 1.87% |
| Benzie | $1,542 | 0.95% |
| Berrien | $1,805 | 1.28% |
| Branch | $1,447 | 1.48% |
| Calhoun | $1,944 | 1.89% |
| Cass | $1,521 | 1.19% |
| Charlevoix | $1,815 | 1.14% |
| Cheboygan | $1,241 | 1.06% |
| Chippewa | $1,477 | 1.33% |
| Clare | $1,125 | 1.32% |
| Clinton | $2,521 | 1.53% |
| Crawford | $1,271 | 1.38% |
| Delta | $1,459 | 1.38% |
| Dickinson | $1,503 | 1.63% |
| Eaton | $2,411 | 1.69% |
| Emmet | $1,946 | 1.14% |
| Genesee | $1,845 | 1.91% |
| Gladwin | $1,366 | 1.36% |
| Gogebic | $1,269 | 1.81% |
| Grand Traverse | $2,348 | 1.28% |
| Gratiot | $1,413 | 1.53% |
| Hillsdale | $1,362 | 1.29% |
| Houghton | $1,455 | 1.42% |
| Huron | $1,431 | 1.49% |
| Ingham | $2,761 | 2.23% |
| Ionia | $1,629 | 1.39% |
| Iosco | $1,088 | 1.22% |
| Iron | $1,189 | 1.55% |
| Isabella | $1,898 | 1.48% |
| Jackson | $1,819 | 1.51% |
| Kalamazoo | $2,576 | 1.76% |
| Kalkaska | $1,206 | 1.15% |
| Kent | $2,385 | 1.55% |
| Keweenaw | $1,191 | 1.24% |
| Lake | $1,124 | 1.39% |
| Lapeer | $1,671 | 1.10% |
| Leelanau | $2,244 | 0.90% |
| Lenawee | $2,011 | 1.61% |
| Livingston | $2,681 | 1.23% |
| Luce | $922 | 1.11% |
| Mackinac | $1,344 | 1.07% |
| Macomb | $2,570 | 1.75% |
| Manistee | $1,482 | 1.28% |
| Marquette | $1,537 | 1.08% |
| Mason | $1,756 | 1.39% |
| Mecosta | $1,404 | 1.22% |
| Menominee | $1,223 | 1.28% |
| Midland | $2,282 | 1.72% |
| Missaukee | $1,218 | 1.14% |
| Monroe | $1,975 | 1.32% |
| Montcalm | $1,427 | 1.41% |
| Montmorency | $1,112 | 1.19% |
| Muskegon | $1,743 | 1.66% |
| Newaygo | $1,555 | 1.49% |
| Oakland | $3,429 | 1.63% |
| Oceana | $1,422 | 1.34% |
| Ogemaw | $1,127 | 1.26% |
| Ontonagon | $1,031 | 1.48% |
| Osceola | $1,229 | 1.34% |
| Oscoda | $901 | 1.08% |
| Otsego | $1,422 | 1.15% |
| Ottawa | $2,364 | 1.41% |
| Presque Isle | $1,198 | 1.22% |
| Roscommon | $1,223 | 1.30% |
| Saginaw | $1,697 | 1.79% |
| Sanilac | $1,277 | 1.26% |
| Schoolcraft | $1,151 | 1.10% |
| Shiawassee | $1,671 | 1.51% |
| St. Clair | $1,949 | 1.44% |
| St. Joseph | $1,469 | 1.32% |
| Tuscola | $1,493 | 1.51% |
| Van Buren | $1,934 | 1.57% |
| Washtenaw | $4,079 | 1.76% |
| Wayne | $2,359 | 2.55% |
| Wexford | $1,385 | 1.44% |
Interesting Facts About Michigan Real Estate
- Homeownership rate: 74.3%
- Homeowner vacancy rate: 0.6%
- Rental vacancy rate: 5.6%
- Occupied housing units: 3,969,880
- Owner-occupied housing units: 2,841,195, renter-occupied housing units: 1,128,685
Year homes were built: 2014 or later (2.6%), 2010 to 2013 (1.2%), 2000 to 2009 (9.9%), 1980 to 1999 (23.2%), 1960
