If you have served in the U.S. military, you may have access to the single best mortgage product available anywhere — a VA loan. Zero down payment. No private mortgage insurance. Competitive wholesale rates. And a one-time funding fee instead of ongoing monthly mortgage insurance that never goes away.
At First Commerce Financial, VA loans are one of our specialties. We serve veterans and active-duty service members across Michigan, Florida, Arizona, and Texas — and we will make sure you understand every aspect of your benefit and get the best possible loan for your situation. No junk fees. No pressure. Direct access to Ken or Kirk from day one.
A VA loan is a mortgage backed by the U.S. Department of Veterans Affairs. The VA does not lend money directly — instead, it guarantees a portion of the loan, which allows approved lenders to offer significantly better terms than they could on a conventional loan. The result: zero down payment, no PMI, competitive rates, and more flexible credit requirements — all earned through your military service.
For eligible veterans and active-duty service members, the VA loan is almost always the best mortgage available. The math is clear — no down payment and no monthly PMI produce a lower all-in monthly cost than any conventional alternative, even accounting for the one-time VA funding fee.
$0 Down Payment
Eligible veterans can purchase a home with zero down — no saving up 3%, 5%, or 20%. The full purchase price can be financed. This is the most significant financial benefit of the VA loan program.
No PMI — Ever
Conventional loans require PMI when you put less than 20% down — typically $100–$300 per month added to your payment. VA loans have no PMI at any down payment level. This alone saves most veterans thousands of dollars over the life of the loan.
Competitive Wholesale Rates
Because the VA guarantees a portion of the loan, lenders can offer lower rates than conventional alternatives. VA rates are typically 0.25%–0.50% lower than comparable conventional rates — and we shop multiple wholesale lenders to find the best rate available for your specific situation.
Flexible Credit Requirements
The VA does not set a minimum credit score — lenders set their own guidelines, but VA loans are generally more forgiving than conventional loans on credit history. We work with veterans across the credit spectrum and will tell you honestly what you qualify for.
Reusable Benefit
Your VA loan benefit does not expire and can be used more than once. As long as you have paid off a previous VA loan or have remaining entitlement, you can use the benefit again — including the possibility of having two VA loans simultaneously in some circumstances.
No Prepayment Penalty
You can pay off your VA loan at any time without penalty — sell the home, refinance, or make extra principal payments. No fees, no restrictions. The loan serves you, not the lender.
✈ Active-Duty Service Members
Currently serving and have completed at least 90 continuous days of active duty. You can use your VA benefit while still on active duty — you do not need to wait until separation or retirement.
🏴 Veterans
Separated from service with at least 90 days during wartime or 181 days during peacetime. Discharged under conditions other than dishonorable. Specific service requirements vary by era — we verify your eligibility as part of the pre-approval process.
🇫🇷 National Guard & Reserves
At least 6 years of service in the Selected Reserve or National Guard, OR 90 days of active service under Title 10 orders. Recent changes have expanded eligibility — if you are unsure whether you qualify, let us check.
♡ Surviving Spouses
Un-remarried surviving spouses of veterans who died in the line of duty or from a service-connected disability may be eligible for the VA loan benefit. We handle surviving spouse COE requests regularly.
Certificate of Eligibility (COE) — We Handle This for You
To use a VA loan, you need a Certificate of Eligibility confirming your entitlement. Many veterans do not have their COE in hand when they start the process — and that is completely fine. We obtain the COE on your behalf as part of the pre-approval process. In most cases we can pull it electronically in minutes through the VA's automated system. You do not need to gather paperwork or contact the VA directly — we take care of it.
VA loans require a one-time funding fee that helps offset the cost of the program. The fee varies based on your down payment amount and whether it is your first or subsequent use of the benefit:
- First use, 0% down — 2.15% of the loan amount
- First use, 5–9.99% down — 1.50% of the loan amount
- First use, 10%+ down — 1.25% of the loan amount
- Subsequent use, 0% down — 3.30% of the loan amount
The funding fee can be rolled into the loan so you do not need to pay it out of pocket at closing. And importantly — some veterans are completely exempt from the funding fee, including veterans receiving VA disability compensation and surviving spouses of veterans who died in service or from a service-connected disability. We verify your exemption status upfront before we run any numbers.
✈ VA Loan
🏠 Conventional Loan
🏛 Michigan
Michigan has a large and active veteran community. Selfridge Air National Guard Base and a strong veteran population across Metro Detroit and Southeast Michigan. We close VA loans throughout Michigan regularly.
🌴 Florida
Florida has one of the largest veteran populations in the country. NAS Jacksonville, Naval Station Mayport, MacDill AFB, and Eglin AFB are among the major installations. VA loans are one of the most active loan types in our Florida markets.
☀ Arizona
Luke Air Force Base in Glendale is one of the most significant fighter pilot training bases in the world. Strong veteran community throughout the Phoenix metro and East Valley. Ken lives in Gilbert — right in the heart of this market.
⭐ Texas
San Antonio has the largest concentration of military installations in the country — Joint Base San Antonio, Randolph AFB, Fort Sam Houston, and more. Texas is one of our most active VA loan markets.
Can I use a VA loan more than once?
Yes. The VA loan benefit is reusable. As long as you have paid off a previous VA loan or have remaining entitlement, you can use it again — including the possibility of having two active VA loans simultaneously in some circumstances. Entitlement restoration after paying off a VA loan is straightforward and we handle the process for you.
Is there a VA loan limit?
For veterans with full entitlement, there is no VA loan limit — you can borrow as much as a lender will approve based on your income and credit. Loan limits only apply if you have reduced entitlement, for example if you have an existing VA loan that has not been paid off. We will check your entitlement status upfront and tell you exactly what you can borrow.
Can I use a VA loan to refinance?
Yes — two ways. The VA IRRRL (Interest Rate Reduction Refinance Loan), also called a VA Streamline Refinance, lets you refinance an existing VA loan to a lower rate with minimal documentation and typically no appraisal. A VA cash-out refinance is also available — you can refinance any existing loan (not just VA) into a VA loan and take cash out at the same time. We have done many of both.
Do I need perfect credit for a VA loan?
No. The VA does not set a minimum credit score — lenders set their own overlays. Most lenders look for 580–620+. We work with veterans across the credit spectrum and will tell you honestly what you qualify for and what steps to take if your credit needs work before applying.
What is the VA funding fee and can it be waived?
The VA funding fee is a one-time fee that ranges from 1.25% to 3.30% of the loan amount depending on your down payment and whether it is your first or subsequent use of the benefit. It can be rolled into the loan so there is no out-of-pocket cost at closing. Veterans receiving VA disability compensation are completely exempt from the funding fee — as are surviving spouses of veterans who died in service or from a service-connected disability. We verify your exemption status before we run any loan estimates.
How long does VA loan approval take?
VA loans typically close in 20–30 days from application — similar to conventional loans. The VA appraisal process can sometimes add a few days, but we manage this proactively. We have closed VA loans across Michigan, Florida, Arizona, and Texas and know how to keep the process moving efficiently.
Can I use a VA loan for a second home or investment property?
No — VA loans are for primary residences only. You must intend to occupy the property as your primary home. If you are buying a second home or investment property, a conventional loan is the right path. We can run both scenarios for you and show you exactly what each option looks like.
The VA loan is one of the most valuable financial benefits available to anyone in America. Don't leave it on the table. Kirk or Ken will walk you through your full entitlement, verify your COE, and make sure you get the best wholesale rate available — with zero junk fees and a straight answer at every step.
Start Your Free VA Loan Pre-ApprovalOr call or text Kirk or Ken directly at (248) 459-5511
First Commerce Financial | Licensed Independent Mortgage Broker | NMLS #137512 | AZ MB #1001354 | Licensed in Michigan, Florida, Arizona, and Texas | Not affiliated with or acting on behalf of VA, FHA, USDA or the Federal Government | Ken Turkington NMLS #137873 | Kirk Chivas NMLS #160828
