Detroit VA Loans and Detroit VA Loan Refinancing
The housing market In Detroit is one of the most affordable in the country. Because of its low median home price of $59,845, the city is a great place to get a lot of house for your money! With a Detroit VA Loans and Detroit VA Loan Refinancing from Capital Bank, N.A., you can purchase the home of your dreams as Veteran home loans allow you to buy a home with NO MONEY DOWN, low interest rates and no private mortgage insurance required.
The Detroit VA Loans and Detroit VA Loan Refinancing process through Capital Bank, N.A. is quick and hassle-free. You can start by completing our easy Veteran loan application form, or contact one of our Detroit VA loan experts to guide you through the process today at (866) 216-3577 or [email protected].
The maximum Veteran home loan amount in Detroit is $424,100*.
Capital Bank, N.A.’s Three Simple Steps on the Road to Homeownership Using Detroit VA Loans and Detroit VA Loan Refinancing
- Step 1: Request your Certificate of Eligibility (COE). We can help you obtain it!
- Step 2: Find your dream home in Detroit on Capital Bank, N.A.’s home search page.
- Step 3: Complete our SIMPLE Veteran Mortgage Application and get prequalified in minutes.
Detroit, Michigan Facts
- The housing market in Detroit was hit hard during the slump in the late 2000s. However, this means that housing is extremely affordable in Detroit and the median sales price for a home is under $60,000. Popular neighborhoods include Midtown, Detroit Golf, Palmer Woods, Indian Village, Morningside and Bagley.
- The population of Detroit is just over 700,000; however, when the metropolitan area is considered, the population is over 4 million. Popular suburbs are Royal Oak, Rochester, Troy, Novi, Lake Orion, Auburn Hills and Birmingham.
- The average salary of a Detroit employee is $67,000. Major employers in the city include Detroit Public Schools, the City of Detroit, Detroit Medical Center, Henry Ford Health System, U.S. government and Blue Cross Blue Shield.
Why Veterans Love Detroit
- More than 67,000 Veterans live in Detroit. These Veterans can receive health care from the John D. Dingell VA Medical Center, which is located on John R Street, has an extended care, HIV/AIDS management, palliative care, primary care, pharmacy and a number of other clinics to provide comprehensive health care to Veterans.
- The closest military installation is Selfridge Air National Guard Base. It’s 25 miles north of Detroit and is the largest joint Reserves base in the country. Nearly every branch is represented at Selfridge ANGB, including active duty Coast Guard, the Marine Corps, Air Force Reserve, Navy Reserve, Army National Guard, Army Reserve.
- The Detroit BAH rate means that service members can easily purchase a home with their VA loan benefits. The BAH rate for an E-5 with dependents is $1521, while an E-5 without dependents will receive $1140 a month.
Take Advantage of YOUR Benefits with a Detroit VA Loans and Detroit VA Loan Refinancing
Your VA loan benefits allow you to save money with a no-hassle Detroit Veteran mortgage from Capital Bank, N.A.. Since Veteran home loans require NO DOWN PAYMENT and come with low interest rates and no high PMI payments each month, they are often a better choice for Veterans than conventional mortgages.
Wondering if you qualify for a Detroit Veteran home loan? Apply online now or contact us to discuss your eligibility!
Do you already have a home in Detroit? You can also access your VA benefits by applying for Detroit Veteran mortgage refinancing from Capital Bank, N.A.. We can check your eligibility and see if a streamline refinance or cash-out refinance makes more sense for you. Best of all, we promise to cut through the red tape and take away the headaches that usually come with refinancing your mortgage!
Qualifying for Detroit VA Loans or Veteran Loan Refinancing
To find out if you qualify for a Veteran home loan, call our Detroit VA loan mortgage experts or check out our VA loan eligibility requirements page.
Typical qualifications for Veteran mortgages and VA loan refinance include one of the following:
- Active duty during wartime of at least 90 days
- Active duty during peacetime of at least 180 days
- Honorable discharge from the armed services
- Being the surviving spouse of a Veteran who died in service or as a result of a service-related injury who is not remarried
Another Affordable Solution: Detroit FHA Mortgages and FHA Refinancing
Detroit FHA mortgages and FHA refinance loans provide additional options for affordably owning a home in Detroit. The experts at Capital Bank, N.A. can guide you through the FHA loan application process and help you qualify for these low down payment, government-backed loans.
Take advantage of Detroit’s affordable housing market before prices go back up! Apply online now for your Detroit VA home loan or Veteran mortgage refinancing from Capital Bank, N.A.. To get more information about Veteran loans, visit our FAQ page or contact us at (866) 216-3577 or [email protected].
*VA Loan Limits are accurate as of 2-5-13. Source: VA.gov, 2013 VA County Loan Limits