- 248-308-5000
A VA loan is perhaps the most powerful and flexible lending option on the market today. Rather than issue loans, the VA instead pledges to repay about a quarter of every loan it guarantees in the unlikely event the borrower defaults. That guarantee gives VA-approved lenders greater protection when lending to military borrowers and often leads to highly competitive rates and terms for qualified veterans.
The most significant benefit of a VA loan is the borrower's ability to purchase with no money down. Apart from the government's USDA's Rural Development home loan and Fannie Mae's Home Path, it's all but impossible to find a lending option today that provides borrowers with 100 percent financing.
VA loans also come with less stringent underwriting standards and requirements than conventional loans. In fact, about 80 percent of VA borrowers could not have qualified for a conventional loan. These loans also come with no private mortgage insurance (PMI), a monthly expense that conventional borrowers are required to pay unless they put down at least 20 percent of the loan amount.
Competitive interest rates that are routinely lower than conventional rates
No prepayment penalties
Higher allowable debt-to-income ratios than for many other loans
Streamlined refinancing loans that require no additional underwriting
"My husband and I had not purchased a home in over 30 years-things have changed! Chris Foster walked us through the process and despite what we had heard about other's home buying experience it was painless. Thanks to Chris and his team."
Waterford, MI • Chris Foster, NMLS #1123930
"Chris & Tara provided me excellent customer service & support in setting up and delivering a home purchase loan. They communicated clearly and responded to all of my questions and issues in a timely manner. I would highly recommend them and Hall Financial."
Bloomfield Hills, MI • Chris Foster, NMLS #1123930
"Patrick is one of a kind. He truly cares about his clients and the work he does. If he doesn't know the answer he will get it for you. Even if it is not mortgage related. I would recommend him to anyone looking to buy or refinance."
Walled Lake, MI • Patrick Ali, NMLS #1484858
"My husband and I knew we wanted to move but put off getting the mortgage ball rolling because we figured it would be a huge headache. Boy were we wrong! Hall Financial made it quick and painless. Patrick and Tara were amazing to work with. Patrick knew all the questions I was going to ask before I even asked them and Tara always knew when I needed to talk to her because she'd literally call or e-mail me the minute I thought of something. They were on top of everything and completed the process in what felt like record time. Thanks to the DREAMTEAM for getting us into our Dream Home! "
Fenton, MI • Patrick Ali, NMLS #1484858
"Philip is always available to answer any questions and makes the whole mortgage process as easy as possible. He works hard and knows what he is doing. I highly recommend him for your mortgage needs. I’ve been through this process a few times and nobody was this good and helped me like Philip Lapinski!"
St. Clair Shores, MI • Philip Lapinski, NMLS #1485025
"From start to finish Daniel was extremely involved...from application through credit reports, appraisal, income reporting. All the way till closing...would not hesitate to use Hall Financial again."
Stanwood, MI • Daniel Morrison, NMLS #1631757
"This is our 6th home purchase and our first time working with Delanie. I wish that we were able to work with him on the previous 5 purchases! Accommodating in every way!"
Grosse Pointe, MI • Delanie Boon, NMLS #1707271
"I had the extreme pleasure of working with Chris Mikovich to secure a mortgage for a home that my family and I purchased on October 12, 2018. The approval process was seamless and stress free. Chris educated me on how the process worked at the very beginning and everything worked just as he said it would. He was responsive, sensitive to my situation and returned my phone calls and emails promptly. I’ve been through the mortgage process several times and never has it been so stress free. I highly recommend Chris to assist with your mortgage needs!"
Waterford, MI • Chris Mikovich, NMLS #1718752
"I am not one that is easily impressed, but Chris and his team exceeded all of my expectations! Chris was available at all times of the day and ensured that the process was smooth from start to finish, including closing in a timely fashion. I would highly recommend Chris for your mortgage lending needs, and I plan to use Chris for any future purchases and/or refinancings. Thanks again Chris!"
Royal Oak, MI • Chris Foster, NMLS #1123930
"Hall Financial can offer any services that larger organizations offer, but they are small enough to offer personalized service. Joseph Reams was very responsive and efficient every step of the way. These folks answer the phone when you call! There are no prompts to dial just to end up back at an operator or someone’s voicemail. Great job Hall Financial!! "
Waterford, MI • Joe Reams, NMLS #1669062